Why Rivian Stock Powered Higher Today
Rivian (NASDAQ: RIVN) stock is getting some attention from Wall Street today, and the market is taking note. Investors are driving shares of the electric pickup truck manufacturer into their portfolios after learning that an analyst sees increased upside for the stock.
As of 11:07 a.m. ET, shares of Rivian have risen 4.1%, giving back some of the 5.4% gain they had made earlier.
Believing that shares have room to run, Vijay Rakesh, an analyst at , hiked the price target on Rivian's stock to $30 from $27, maintaining a buy rating. Based on yesterday's closing price of $24.69, Rakesh's price target implies upside of almost 22%. According to TheFly.com, Mizuho is encouraged by Rivian's recent performance and believes that the company could surpass the 2023 delivery forecast of 50,000 vehicles.
Source Fool.com
