tl;dr
Stifel recently initiated coverage on Rivian Automotive (RIVN) and Lucid Group (LCID), shining a light on the current challenges facing the electric vehicle (EV) sector. These challenges include macroeconomic factors such as high interest rates, inflation, and recessionary worries, as well as EV-spe...
Stifel recently initiated coverage on Rivian Automotive (RIVN) and Lucid Group (LCID), shining a light on the current challenges facing the electric vehicle (EV) sector. These challenges include macroeconomic factors such as high interest rates, inflation, and recessionary worries, as well as EV-specific headwinds like range anxiety, vehicle costs, model availability, and charging infrastructure. Nevertheless, Stifel remains optimistic about the future of EV sales, projecting that these hurdles will diminish over the next few years, potentially paving the way for sales growth.
Rivian Automotive (RIVN) received a Buy rating from Stifel, which highlighted the high-quality R1S/R1T driving brand awareness, the agreement with Amazon for 100K electric delivery vehicles, and the potential to sell its commercial van to other fleets as key positives. Stifel also pointed out that the R2 platform addresses the largest vehicle segment in the U.S., currently dominated by Tesla (TSLA). Additionally, Stifel assigned a price target of $23 to Rivian (RIVN). On the other hand, Lucid Group (LCID) was initiated with a Hold rating, with Stifel expressing concerns about brand awareness, market development for the Lucid Air sedan, and the "prove-it-to-me" production stage. Stifel set a price target of $5 for LCID. In premarket trading on Thursday, Rivian Automotive (RIVN) saw a 4.42% rally, while Lucid Group (LCID) gained 1.15%.
More about Rivian Automotive Inc
Rivian Automotive Inc. is a manufacturing company in the motor vehicles & passenger car bodies industry. The company's market capitalization is $17,267,657,000 with no dividend yield. The stock has experienced a decrease of -6.02% in the last year and has a Price/Earnings ratio of 4.033. The company's Earnings Per Share (EPS) stands at -1.49. With a total revenue of $3,782,000,000 and a current ratio of 26.8, the company seems to be in a strong financial position. However, the market sentiment towards Rivian Automotive Inc. appears to be neutral, with no clear bullish or bearish trend evident.
More about Lucid Group Inc
Lucid Group Inc, a company in the real estate and construction sector, is currently categorized as a blank check company. The stock has shown a decrease of 1.5% and a market sentiment of 0.359. The company has not reported any earnings and has a market cap of 695,833,000. The stock is currently trading at 5.06, with a decrease of -0.295. Given the current data, it's important to note the potential risks associated with investing in this stock, as past performance may not be indicative of future results.
More about Tesla Inc
Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. In 2020, Tesla had the highest sales in the plug-in and battery electric passenger car segments, capturing 16% of the plug-in market and 23% of the battery-electric market. The company is a major installer of solar photovoltaic energy generation systems in the United States and one of the largest global suppliers of battery energy storage systems, with 3 GWh of battery storage supplied in 2020. With a market cap of $760.94 billion, Tesla's stock price is currently at $77.47, with a 3.09% change, and a 30.28 P/E ratio. The Relative Strength Index (RSI) is at 0.112, indicating a potentially oversold condition. The company's financials show a revenue of $95.92 billion and a net income of $224.9 million, with a negative operating margin of -0.442. Despite the positive market sentiment towards Tesla's innovative products and services, the stock's performance and financial indicators suggest potential risks and uncertainties in the company's future performance.
Disclaimer:
This is not financial advice. Please do your own research before investing in any asset.