Rivian Stock Popped 15% Thursday, but There Could Be Room to Run

With the Trump administration pulling back support for electric vehicles (EVs), adding tariffs to automotive import vehicles and parts, and removing the $7,500 federal EV tax credit, it's going to be tough for the U.S. EV industry to expand in the near term. That creates a scary environment for young EV start-ups such as Rivian (NASDAQ: RIVN).But here's a little good news for Rivian investors while they wait for the highly anticipated R2 to hit the roads next year.Rivian investors received a vote of confidence from Baird analyst Ben Kallo, as he upgraded Rivian shares from hold to buy and also bumped the price target from $14 up to $25 per share. Thirty percent of analysts covering the stock say its shares are a buy, according to FactSet. But what exactly is driving this analyst's belief?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool