Tesla Vs. Rivian: Which EV Stock Offers More Upside?

In the battle of EVs (electric vehicles), Rivian Automotive Inc RIVN would find it difficult competing with Tesla Inc TSLA on the public awareness scale.

While RJ Scaringe is the man behind Rivian, it would be hard to find someone who doesn’t know Tesla CEO Elon Musk.

Related: Rivian CEO RJ Scaringe Expands Role, Takes Charge Of All Product Segments

Investors, however, like to look past the flash and focus on value as they put in their money. So, let’s look at a quick comparison between Tesla and Rivian to figure out which stock offers more upside per market analysts.

On a year-to-date basis, Tesla’s stock price is up 117.81% while Rivian is down 5.25%.

Tesla stock was spurred by news around its Cybertruck production and record car deliveries, even in the face of macroeconomic headwinds. On the other hand, RIVN stock remained muted on account of its fundraising haul and production misses against estimates.

So, while a $1,000 invested in Tesla stock at the beginning of the year might have doubled your money to about $2,178 now; with the same amount invested in Rivian stock, you would be sitting with a loss of about $52.50.

Coming to value based on current prices, it appears that Wall Street analysts think Tesla stock may have outpaced its value. So, while the current price of Tesla stock hovers around $233.99, analysts see a 12.23% potential downside with the stock.

Chart compiled using Yahoo Finance data.

Rivian stock, on the other hand, appears to win analyst favor in terms of upside. Based on 24 analyst ratings for the stock, the stock offers a 60.74% upside over current price levels (of $16.69).

Read Next: Rivian Only EV Maker That Makes The Cut For Bullish Recommendation Says Analyst: ‘Underappreciated Winner’ In EV Transition

Photos: Courtesy Tesla, Shutterstock