RIVN - Rivian: Thank You Toyota!
2024-06-25 20:00:00 ET
Summary
- Rivian benefits from reduced EV competition due to Toyota's focus shifting back to internal combustion engines.
- The EV company's short-term catalyst is proving auto gross margin profitability without ramping up production, with long-term catalysts being the launch of R2 and R3 models.
- Analyst Gary Black predicted Rivian's stock price could reach $67 by 2030, with potential for significant sales growth and positive margins.
- The stock is attractive at $10 due to the major catalysts and limited stock valuation compared to the opportunity over the next 5 to 7 years.
While Rivian Automotive, Inc. ( RIVN ) has a lot of catalysts for the stock over the next few years, one of the biggest benefits of the ongoing weakness in EVs is a reduction in competition. The EV company continues to make massive progress in turning existing production profitable, while the future launch of the R2 and R3 provides the next level up. My investment thesis is ultra-Bullish on Rivian, with signs the stock is building off a base at $10....
Rivian: Thank You, Toyota!