The investment firm said that its electric trucks could disrupt the auto industry over the next decade thanks to an untapped market in electric sport-utility vehicles and electric pickup trucks. Wedbush initiated Rivian coverage at outperform with a price target of $130 a share. Meanwhile, JPMorgan and Goldman Sachs were a bit more conservative about the EV maker given its valuation. Class A Report, which went public last month, on Monday received bullish reviews from analysts at Wedbush, Deutsche Bank, and Morgan Stanley. EV Disruptor Rivian Lauded on Wall Street With Valuation CautionĮlectric-vehicle maker Rivian ( RIVN) - Get Rivian Automotive, Inc. TheStreet Quant Ratings does not have a rating for Lucid. Rawlinson has not been shy when it comes to touting his company's upcoming product and its ability to become a major player in the EV space. What Lucid does have is a very confident chief executive with an impressive background: Peter Rawlinson, who formerly was a Tesla vice president and served as lead engineer for the Model S. That number has since increased to more than 17,000, but reservations are not the same as sales (as anyone who has followed the Tesla Cybertruck saga surely knows. The Newark, Calif., company closed its third quarter with 13,000 vehicle reservations, which it said in its most recent earnings release represents $1.3 billion. Securities and Exchange Commission linked to a probe into its July merger with Churchill Capital. Lucid received about $4.4 billion in cash from the transaction, which faced last-minute challenges being approved due to difficulties communicating to retail investors holding the stock to vote, and valued Lucid at around $24 billion when it was listed on the Nasdaq in July. Report shares slumped lower Monday after the upstart luxury electric carmaker said it received a subpoena from the U.S. Lucid Group ( LCID) - Get Lucid Group, Inc. Lucid Motors Received a Subpoena From the SEC CEO Thinks He Can Take on Tesla TheStreet Quant Ratings rates Ford as a Buy with a rating score of B.
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