Rivian plans comeback with new EV models, stock upgraded to 'buy' by Piper Sandler.

From MarketWatch:

Rivian Automotive’s stock has plummeted 93% since its IPO, now valued at $10.9 billion. Despite this, the company plans a comeback with new electric vehicle models like the R2 SUV priced at $45,000. Financial struggles continue as Rivian burned $6 billion in free cash flow over 12 months, with 18 months of cash left.

Piper Sandler upgraded Rivian stock to a “buy” rating, setting a price target of $21 per share, nearly double the current value. Analysts forecast sales to increase by 56% to $7.5 billion in 2025, potentially making Rivian a high-growth investment if it can turn profitable in the long term. Market consensus pegs the average target price at $19.30.



Read more at MarketWatch: Will Rivian Rebound? Here’s How High Wall St. Predicts the EV Stock Can Rise