Analyst revises Rivian stock price target

Core Viewpoint - Rivian's stock has experienced a significant decline due to market reactions to tariffs and disappointing Q1 production and delivery figures, but there may be attractive long-term entry points for investors [1][2][3]. Stock Performance - Rivian shares fell from $12.49 to$11.08, marking an 11.28% drop, resulting in year-to-date losses of 16.69% [1][2]. - Deliveries in Q1 2024 were 8,640 vehicles, a 36.4% decrease compared to the previous year, while production was 14,611 vehicles, slightly above estimates [2]. Analyst Ratings and Forecasts - Cantor Fitzgerald maintained a 'Hold' rating on Rivian stock, with a price target of $15, suggesting a potential upside of 35.37% from current prices [3][4]. - The analyst's decision was influenced by deliveries exceeding internal targets and analyst estimates, using a 10-year discounted cash flow model for the price forecast [4]. Business Developments - Rivian recently spun off its micro-mobility unit, allowing for a more focused approach on core operations [5]. - The company’s production facility in Normal, Illinois, is expected to benefit from tariffs, as most vehicles are sold in the U.S., making operations less vulnerable to trade disputes [6].