Rivian also reaffirmed its goal of making 25,000 electric vehicles this year.
Видиш сад: Ривиан губи скоро 2 милијарде долара у другом кварталу како трошкови расту
“The ball is finally rolling,” wrote Wedbush analyst Dan Ives, in a note released Friday, citing Rivian’s top line beat, and its production and delivery numbers. “The company produced 4,401 vehicles and delivered 4,467 total vehicles this quarter while also increasing total reservations to 98K up from 90K total last quarter despite macro fears,” he added.
“We believe Rivian is in a great position to capture the massive influx of current and future EV demand,” Ives wrote.
Wedbush maintained its outperform rating and raised its price target to $45 from $40, which Ives said reflects further confidence in the company’s production story.
Mizuho’s Vijay Rakesh was also upbeat on the results, and about the potential impact from clean-energy legislation.
“RIVN reported a modestly better JunQ at $364M (Cons $336M), with demand continuing strong, offset by some supply constraints,” Rakesh wrote in a research note. “We believe RIVN may have seen the worst of chip-supply tightness in the JunQ, with better semi supply ahead as production ramps (adding a 2nd shift).”
Rivian describes itself as a maker of “electric adventure vehicles,” such as its R1T pickup truck and R1S SUV. The company also makes electric delivery vans, notably counting Amazon.com. Inc.
АМЗН,
+ КСНУМКС%
као купац.
“The Inflation Reduction Act was noted to potentially provide up to $40,000 incentives for commercial vehicles which could become a tailwind for RIVN as its EDVs [Electric Delivery Vehicles] ramp, though we believe R1 buyers will likely not qualify,” wrote Rakesh.
Видиш сад: Залихе горивих ћелија, ЕВ-а и соларне енергије расту јер рачун за климу чини „алтернативну“ енергију више „у новцу“
Ривиан већ јесте упозорио that planned revisions to the EV tax credit would put it at a disadvantage to more established competitors, according to The Wall Street Journal.
Last weekend, the Senate Усвојено Закон о смањењу инфлације, који ciljevi да смањи емисију угљеника за отприлике 40 процената до 2030. Очекивано гласати о тој мери се очекује у Представничком дому у петак.
Mizuho maintained its Rivian buy rating, but lowered its price target to $65 from $70, citing multiple target compression.
D.A. Davidson’s Michael Shilsky remained bearish on Rivian, but did nudge up his price target, as supply chain risks look set to fade.
“Our checks suggest that there could be further risks in the supply chain but for now, we do model improvement a few quarters down the road,” Shilsky wrote. “We do note that macro conditions do not appear to have dampened demand for RIVN vehicles, which is clearly a good sign, but net/net we believe RIVN has to overcome numerous near-term challenges to potentially turn us more constructive on the stock.”
Shilsky kept his rating at underperform, but raised its price target to $27 from $24.
Of the 18 analysts surveyed by FactSet, Shilsky was the lone bear, while 11 analysts were bullish and six were neutral.
Meanwhile, Investment research firm New Constructs recently додао Rivian to its списак "зомби" компанија, citing cash as a potential problem for the car maker.
Rivian: 'Зомби' компанија или се крећете на путу ка успеху ЕВ?
Rivian ended the second quarter with about $15.5 billion in cash and equivalents, down from about $17.0 billion at the end of the first quarter.
The company’s shares have declined 61.4% this year, outpacing the S&P 500 index’s
СПКС,
+ КСНУМКС%
fall of 11.3%.
Акције Ривиана расту на основу резултата у другом кварталу: „Копта се коначно котрља“ за произвођача електричних возила, каже аналитичар
Акције Ривиан Аутомотиве Инц.
-0.13%
РИВН,
gained more than 3% in morning trading Friday, as analysts were generally upbeat about the electric vehicle maker’s second-quarter results.
Late Thursday, Rivian пријавио a narrower-than-expected second-quarter loss despite a challenging supply-chain environment, including ongoing issues with chips, and revenue that beat forecasts.
Rivian also reaffirmed its goal of making 25,000 electric vehicles this year.
Видиш сад: Ривиан губи скоро 2 милијарде долара у другом кварталу како трошкови расту
“The ball is finally rolling,” wrote Wedbush analyst Dan Ives, in a note released Friday, citing Rivian’s top line beat, and its production and delivery numbers. “The company produced 4,401 vehicles and delivered 4,467 total vehicles this quarter while also increasing total reservations to 98K up from 90K total last quarter despite macro fears,” he added.
“We believe Rivian is in a great position to capture the massive influx of current and future EV demand,” Ives wrote.
Wedbush maintained its outperform rating and raised its price target to $45 from $40, which Ives said reflects further confidence in the company’s production story.
Mizuho’s Vijay Rakesh was also upbeat on the results, and about the potential impact from clean-energy legislation.
“RIVN reported a modestly better JunQ at $364M (Cons $336M), with demand continuing strong, offset by some supply constraints,” Rakesh wrote in a research note. “We believe RIVN may have seen the worst of chip-supply tightness in the JunQ, with better semi supply ahead as production ramps (adding a 2nd shift).”
Rivian describes itself as a maker of “electric adventure vehicles,” such as its R1T pickup truck and R1S SUV. The company also makes electric delivery vans, notably counting Amazon.com. Inc.
+ КСНУМКС%
АМЗН,
као купац.
“The Inflation Reduction Act was noted to potentially provide up to $40,000 incentives for commercial vehicles which could become a tailwind for RIVN as its EDVs [Electric Delivery Vehicles] ramp, though we believe R1 buyers will likely not qualify,” wrote Rakesh.
Видиш сад: Залихе горивих ћелија, ЕВ-а и соларне енергије расту јер рачун за климу чини „алтернативну“ енергију више „у новцу“
Ривиан већ јесте упозорио that planned revisions to the EV tax credit would put it at a disadvantage to more established competitors, according to The Wall Street Journal.
Last weekend, the Senate Усвојено Закон о смањењу инфлације, који ciljevi да смањи емисију угљеника за отприлике 40 процената до 2030. Очекивано гласати о тој мери се очекује у Представничком дому у петак.
Mizuho maintained its Rivian buy rating, but lowered its price target to $65 from $70, citing multiple target compression.
D.A. Davidson’s Michael Shilsky remained bearish on Rivian, but did nudge up his price target, as supply chain risks look set to fade.
“Our checks suggest that there could be further risks in the supply chain but for now, we do model improvement a few quarters down the road,” Shilsky wrote. “We do note that macro conditions do not appear to have dampened demand for RIVN vehicles, which is clearly a good sign, but net/net we believe RIVN has to overcome numerous near-term challenges to potentially turn us more constructive on the stock.”
Shilsky kept his rating at underperform, but raised its price target to $27 from $24.
Of the 18 analysts surveyed by FactSet, Shilsky was the lone bear, while 11 analysts were bullish and six were neutral.
Meanwhile, Investment research firm New Constructs recently додао Rivian to its списак "зомби" компанија, citing cash as a potential problem for the car maker.
Rivian: 'Зомби' компанија или се крећете на путу ка успеху ЕВ?
Rivian ended the second quarter with about $15.5 billion in cash and equivalents, down from about $17.0 billion at the end of the first quarter.
The company’s shares have declined 61.4% this year, outpacing the S&P 500 index’s
+ КСНУМКС%
СПКС,
fall of 11.3%.
Source: https://www.marketwatch.com/story/rivian-shares-rise-on-second-quarter-results-the-ball-is-finally-rolling-for-the-ev-maker-says-analyst-11660312909?siteid=yhoof2&yptr=yahoo