Truist analyst Jordan Levy keeps a Hold rating and $12 price target on Rivian Automotive (RIVN) after the company reported “solid” Q4 production/delivery numbers that came in 11% and 6% respectively ahead of Street estimates. The firm believes that with the supplier/component concern in the rearview mirror, the focus will now be on Rivian’s ability to execute on its path toward profitability, as it sees “only modest” y/y growth in FY25 ahead of the company’s planned 2026 R2 launch. Truist adds that given the incoming administration’s commentary around eliminating the Passenger EV tax credit, it will also look toward Rivian’s Q4 release and 2025 guidance to get a sense of whether Q4 data benefited from demand pull forward.
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