TSLA - Rivian Stock Puts Pedal To Floor As Analyst Compares EV Brand Power To Tesla | Benzinga
Guggenheim initiated coverage on Rivian Automotive Inc (NASDAQ:RIVN) with a Buy rating Tuesday as the firm expects the electric vehicle company to emerge from the EV winter as a market leader.
What To Know: Guggenheim analyst Ronald Jewsikow slapped a Buy rating on Rivian shares and set a price target of $18, as he saw an opportunity ahead for the company to grow its market share by appealing to younger, digitally oriented consumers.
The Guggenheim analyst highlighted a compelling catalyst path around a few main theses that support his optimism about the manufacturer.
First, Jewsikow sees an inflection point ahead in terms of financials. The analyst believes now is the time to put some money to work in Rivian stock, citing historical alpha generation related to buying before a company reaches breakeven EBITDA. Jewsikow anticipates a positive inflection point in EBITDA in mid-2026 and expects Rivian to reach breakeven gross margin in the fourth quarter of this year.
“R1 breakeven is important ...