Is Rivian Stock about to Pop to $40?
Making automobiles is difficult and expensive. If you look up a list of defunct automakers throughout history, there are nearly 100 automakers starting with the letter "A" that have closed their doors for good.
The task of making automobiles is even more daunting for those focused on electric vehicles (EVs), as the only automaker doing it profitably right now is (NASDAQ: TSLA).
But Rivian Automotive (NASDAQ: RIVN) has a chance to thrive similar to its predecessor, and it checks off a number of boxes necessary to make a great long-term investment. In fact, after Rivian's first quarter, Bank of America analyst John Murphy rated Rivian a buy and slapped a $40 per share price target on the automaker. Here are a few reasons Murphy might be right on the money.
Source Fool.com
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