Rivian (NASDAQ:RIVN) stock is a hot topic on Tuesday after Evercore ISI weighed in on the electric vehicle (EV) company’s shares.
The big news here is Evercore ISI’s analysts reiterating their “outperform” rating for RIVN stock. The firm’s analysts said the following about Rivian in a note to clients obtained by CNBC:
“Ahead of our visit, after Q3, we have updated our model with the latest in management’s comments around the crucial ’24 gross margin bridge which will see substantial architectural/technology improvements during the mid-year shutdown/line transition.”
Investors will note that Evercore ISI remains bullish on RIVN stock after upgrading the shares to “outperform” in October. That came with a price target of $35 per share. That’s still a higher target than the current analysts’ consensus estimate of $28.95 per share.
RIVN Stock Rises on Lease News
To go along with the reiterated rating from Evercore ISI, Rivian has announced an expanded leasing program for its R1T electric pickup truck. This allows customers across 14 states to make use of that leasing program.
The states where this financing option is available are.
- Arizona
- California
- Colorado
- Florida
- Georgia
- Massachusetts
- Michigan
- Missouri
- New Jersey
- New York
- Nevada
- Pennsylvania
- Texas
- Washington
RIVN stock is up slightly as of Tuesday morning.
Investors seeking out more of the hottest stock market stories are going to want to stick around!
We’re offering up all the latest stock market news traders need to know about on Tuesday! A few examples include why Troika Media (NASDAQ:TRKA), FuelCell Energy (NASDAQ:FCEL) and Novocure (NASDAQ:NVCR) are in the news today. All of that info is ready to go at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
