Rivian surges on bullish analyst comments after first Autonomy and AI Day
Shares of Rivian Automotive RIVN.O up 16% at $19.06 after bullish analyst commentary post its first Autonomy and AI Day
RIVN on Thursday debuted a new custom chip for self-driving and a paid self-driving technology package
"The event exceeded our expectations & cements our view for RIVN to become the Number 2 North America EV player, even leapfrogging Tesla right now in certain AI-integration areas," BNP Paribas says in a note
As most OEMs struggle to adopt software-defined architectures, RIVN remains worlds' ahead - just months away from selling true AI-defined vehicles - BNP Paribas
Brokerage Needham raises PT to $23 from $14
*Morningstar starts coverage with PT of $15, says co will ramp up production of the R2 SUV and that its autonomy software will be a differentiator
10 of 30 brokerages covering the stock recommend "buy" or higher, 15 recommend "hold", while others recommend "sell"; stock has a median PT of $15 - LSEG
Up to last close, RIVN had gained ~24% this year
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