Tesla’s only competitor received a passing grade from the market

Powered by Amazon electric car manufacturer Rivianit went public last month to gain a foothold in the electric car market dominated by Tesla.

Rivian’s shares, which were offered to the public at $78, fell to $172 within a week and are now $104. Analysts on Wall Street think that Rivian is the only company that can compete with Tesla in the electric car market.

“HAVING ALL STRATEGIC CHARACTERISTICS”

According to Bloomberg HT news, Morgan Stanley Analyst Adam Jonas said that with a target price of $147, while giving advice to add weight in the portfolio to Rivian, he said that the company has all the strategic qualities to be in. electric car cover.

Piper Sandler analyst Alexander Potter, on the other hand, said that many companies tried to achieve Tesla’s success, but they did not succeed, and said, “What distinguishes Rivian from others is its vertical integration strategy that includes battery technology and software.” Potter set a target price for Rivian to be $148 and was advised to buy.

BIG BANKS ISSUING “BUY” ADVICE.

Deutsche Bank In a letter published in the company, he said that Rivian has unique characteristics in terms of equipment and software to be a large and profitable company. Underscoring the importance of Rivian’s relationship with Amazon, Deutsche Bank issued a buy rating with a target price of $130.

JP Morgan Analyst Ryan Brinkman has set his price target for Rivian at 104, while maintaining his neutral recommendation on the stock. Explaining that Rivian can compete in the market with companies like Tesla, Ford and General Motors, Brinkman said that despite the recent increase in the stock, the value of the stock is already very high.