Reported 2 days ago
Rivian's stock surged to its highest point since August after Benchmark initiated coverage with a Buy rating and set a bullish $18 price target. Despite facing production challenges and projected losses, Rivian's partnerships with Volkswagen and Amazon, along with recent federal loan approvals, have bolstered its financial position. Analysts believe Rivian has significant growth potential in the expanding electric vehicle market, aided by cost reductions and a strong balance sheet.
Source: YAHOO