10 AI Stocks In The Spotlight For Investors

8. Rivian Automotive, Inc. (NASDAQ:RIVN)

Number of Hedge Fund Holders: 41

Rivian Automotive, Inc. (NASDAQ:RIVN) is one of the 10 AI Stocks In The Spotlight For Investors. On August 14, Benchmark analyst Mickey Legg reiterated a Buy rating on the stock with a $18.00 price target. The affirmation follows an investor call with the company’s VP of Finance, Derek Mulvey.

The firm came away optimistic about Rivian’s growth trajectory, operational execution, and ability to scale production as it prepares for the R2 launch.

“We hosted an investor call with Rivian’s VP of Finance, Derek Mulvey, yesterday and came away confident in the company’s growth trajectory, operational execution, and ability to scale production into the R2 launch. Commentary reinforced our view that Rivian is positioned to leverage its technology, brand, and partnerships to capture meaningful share in the premium EV market while expanding into more affordable segments.”

The firm believes Rivian has the potential to scale profitably and that it deserves a premium valuation multiple compared to its peers in the electric vehicle market.

“We believe our thesis behind RIVN’s multi-year product roadmap, software-driven differentiation, and strategic partnerships remains intact and further underpins our conviction in its ability to scale profitably and command a premium valuation multiple relative to peers. In our view near-term volatility from policy shifts is outweighed by the medium-term production and margin expansion opportunity. Maintain Buy & $18.00 price target.”

Rivian Automotive, Inc. (NASDAQ:RIVN) is an automaker that creates and manufactures electric vehicles, as well as software and services.