Evercore ISI analyst Chris McNally now rates the electric-truck maker at Buy, rather than at Hold. His price target is $35 a share, up from $30.
Shares of the electric- truck start-up Rivian Automotive have enjoyed some positive momentum lately. One sign that the ride isn’t over is that the shares caught an upgrade just ahead of the company’s third-quarter delivery report, sending the stock higher to start the week.
Details weren’t immediately available to Barron’s yet. The broker didn’t respond to a request for a copy of the report early on Monday. Wall Street projects about 14,000 deliveries for the third quarter. The company delivered 12,640 cars in the second quarter and 7,946 in the first for a first-half total of 20,586 units.
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