Rivian Is Better As A Supplier Than An EV Maker, Says Morgan Stanley
In his most recent note, Morgan Stanley analyst Adam Jonas believes Rivian is better as a Tier 1 supplier than an electric vehicle maker.
“Volkswagen’s cash reduced near term volatility in the stock but it doesn’t change our view that Rivian may have a better future as a Tier 1 supplier/Software defined vehicle (SDV) ‘tech partner’ than as a stand-alone maker of EVs,” wrote Jonas in his recent note.
“Anything that takes Rivian away from making their own cars can be a positive,” he emphasized.
Jonas wrote that Morgan Stanley raised its price target for Rivian from $13 to $17 per share due to its expectations of higher margins and reduced operational expenditures. The investment firm predicts future Rivian models might be developed in partnership with Volkswagen.
Rivian will continue producing electric vehicles primarily at its Normal, Illinois plant. It does not currently consider the Georgia plant in its scenarios.
“We no longer contemplate the Georgia plant in any of our scenarios at this time.”
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