Dan Ives now has a $40 price target for Rivian
Production numbers are now going in the right direction.
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Staff or Guest writer for The Dog of Wall Street.
2022-07-09 14:44

Production figures are currently trending upward, prompting Wedbush analyst Dan Ives to revise his price estimate for Rivian (NASDAQ: RIVN). According to Ives, who revised the price target to $40, the global automotive semiconductor scarcity will soon be a thing of the past.Dan Ives now has a price target for Rivian
The company informed investors of its second-quarter production results and confirmed its intention to build 25,000 automobiles in 2022. As a result of this increase in output, the firm is now on schedule to meet its revised production objective, and investors are pleased.

Customers have shown a strong preference for Rivian's pickup trucks and SUVs. Amazon.com has also placed a massive order for 100,000 delivery vans with the firm. Rivian's main issue thus far has been producing enough vehicles to match the brisk demand for its EVs.


Disclaimer: I have no positions in any of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.

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