Why Rivian Automotive (RIVN) Shares Are Trading Higher Today - Rivian Automotive (NASDAQ:RIVN)

Mizuho analyst Vijay Rakesh reiterated a Buy on Rivian Automotive, Inc RIVN with a $65 price target.
After speaking with management, Rakesh says Rivian Automotive's recall of its ~13,000 R1 units, or less than 1% of its vehicles, is relatively minor, and its manufacturing lines have already been updated.
Usually, customers can drive through service centers or use "Pop-Up" maintenance areas.
He believes that the ~25K production target is still on track.
He views the pullback as overdone and would be BUYERS.
Rivian is well-positioned with its SUV/Truck EV portfolio in one of the most attractive and fastest-growing vehicle markets with exposure to both consumer and commercial.
He re-rated on the pullback, which seems to be overdone on a knee-jerk reaction.
Price Action: RIVN shares traded higher by 5.14% at $33.08 on the last check Tuesday.

Rivian Stock Set To Double Courtesy Its EV Portfolio As Recall Related Pullback Seems Overdone, Analyst Says