Canaccord Genuity analyst George Gianarikas has maintained their bullish stance on RIVN stock, giving a Buy rating on March 18.
George Gianarikas has given his Buy rating due to a combination of factors, primarily focusing on Rivian’s strategic position in the electric vehicle (EV) market. He highlights the lack of diversity in the US EV market, which is currently dominated by Tesla, and sees Rivian as a strong contender to fill this gap. With Rivian’s upcoming R2 model, which is priced competitively and offers appealing features and aesthetics, Gianarikas believes that Rivian is poised to capture significant market share.
Furthermore, Gianarikas points out the strategic advantage Rivian holds with its manufacturing base in America, which could mitigate tariff impacts. He also notes the potential for Rivian to become an iconic American auto brand as other manufacturers pull back from their EV commitments. Despite challenges in the EV industry, Gianarikas is optimistic about Rivian’s ability to scale and capitalize on the transition to electrification, drawing parallels to past industry shifts like those in smartphones and streaming.
In another report released on March 18, Benchmark Co. also maintained a Buy rating on the stock with a $18.00 price target.
RIVN’s price has also changed moderately for the past six months – from $10.640 to $12.490, which is a 17.39% increase.