Rivian Gets A Thumbs-Up From Jim Cramer For Investment-Worthy Potential: 'This Is One Unbelievably Positive Note'

Host of CNBC’s “Mad Money” Jim Cramer has pointed to Rivian Automotive Inc. RIVN as a potential investment opportunity for those interested in the electric vehicle (EV) sector, CNBC reported.

Rivian’s stock surged by 6% after gaining a positive outlook from Wall Street analysts. Baird, a multinational independent investment bank and financial services company, labeled Rivian as a “bullish Fresh Pick.”

Baird expects Rivian to surpass third-quarter delivery estimates, driven by improved margins and increasing demand for its products. They maintained an outperform (buy) rating on Rivian’s stock with a price target of $30 per share, representing a 42% premium to Monday’s closing price of approximately $21.

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Reacting to the upbeat outlook from Wall Street, Cramer suggested investors keep an eye on Rivian.

“This is just one unbelievably positive note,” Cramer said.

The CNBC Investing Club, while not currently holding Rivian in its portfolio, does own shares of Ford Motor Company F, which is actively expanding its own EV business.

As of the most recent market close, Rivian’s stock was trading at around $21 per share.

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