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Why Rivian Stock Moved Higher Monday

TheMotleyFool

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Rivian Automotive (NASDAQ: RIVN) continues to be one of the more widely followed electric vehicle (EV) start-ups. The stock moved higher today after one analyst reiterated a bullish take on the company and the stock on Friday. It also comes as Rivian's third-quarter update approaches. Rivian stock was up 3.6% as of 3:18 p.m. ET.

Wedbush Securities' Dan Ives remained optimistic Friday on the EV maker's future due to several factors. MarketWatch shared that the analyst has the equivalent of a buy rating on Rivian shares with a stock price target of $45. Ives believes that price is a fairly conservative three times estimated 2025 revenue.

Source Fool.com

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