Posted 2/27/2024, 10:18:45 AM
Rivian Growth Forecasts Tempered as Analysts Project Slower Revenue, Higher Losses
- Analysts have sharply reduced Rivian's expected revenue for 2024 down to $4.9 billion, though still an 11% increase over last year
- Losses per share are expected to rise to $4.81 in 2024, up from $4.46 previously expected
- Consensus price target for Rivian stock fell 22% to $19.04 amid weaker outlook
- Rivian's forecasted revenue growth rate of 11% annually is slower than the 13% industry average
- Analyst estimates revisions indicate increased wariness about Rivian's future growth and valuation