Key Points
On September 28, Cantor Fitzgerald analysts reiterated a “neutral” rating on Rivian (NASDAQ: RIVN) while maintaining a $19 price target, suggesting over 20% upside potential from its current price of approximately $15. Rivian’s current market valuation stands at around $22 billion, with the price target reflecting potential growth as it expands its sales avenues, particularly in the robotaxi market.
Rivian generated only 5.9% of Tesla’s sales last quarter and accounted for 2.5% of its deliveries, indicating a large gap in performance. However, as Rivian continues its vehicle production, including the recently launched R2 SUV priced at $48,000, its gross margins—currently at 2%—could improve as production scales up. Analysts believe that Rivian’s approach to selling vehicles to robotaxi operators could significantly enhance its market share, with the robotaxi segment projected to grow to a $1 trillion market by 2040.
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