Rivian Automotive Stock Shows Promise, Analysts Predict Growth

Positive Outlook for Short-Term Price Targets

Rivian Automotive, the electric vehicle manufacturer, has caught the attention of analysts who are predicting a positive short-term outlook for its stock. Based on forecasts from 22 analysts, the average price target for Rivian is set at $16.14.

Long-Term Growth Projections

Analysts are also optimistic about Rivian's long-term prospects. Over the next 30 days, the stock is expected to reach an average analyst price target of $30.87. Furthermore, sales are projected to rise by 8.8% year-over-year to $4.82 billion in 2024, with top-line growth accelerating in subsequent years.

Analyst Consensus

Of the 23 analysts covering Rivian, the average 12-month price target is $17.30, with a range of $15.60 to $26.00. This consensus suggests that analysts believe Rivian's stock has potential for growth in the coming year.