Canaccord Maintains Buy on Rivian (RIVN) After Autonomy & AI Day

Rivian Automotive, Inc. (NASDAQ:RIVN) is one of the Buzzing AI Stocks on Wall Street. On December 15, Canaccord Genuity maintained its “Buy” rating on the stock with a $21.00 price target. The rating affirmation follows RIVN’s first Autonomy & AI Day, with analysts sharing upbeat takeaways driven by the company’s tech culture and long-term vision.

Canaccord Genuity attended the event at Rivian’s Palo Alto, California facility, which serves as the home for the company’s autonomy and technology teams. Thanking the team for hosting them, the firm noted how attendee anticipation was matched by Rivian’s "tangible excitement.” The team was very excited to showcase and explain their work.

The company made several announcements at the event, including a proprietary chip, RAP1, designed for “physical AI”; an evolved software architecture; a new AI assistant; and a road map for getting to “personal L4,” which are fully self-driving personally owned vehicles.

"Takeaways from Rivian's 1st Autonomy & AI Day. On Thursday, we attended Rivian's first Autonomy & AI Day (a webcast replay can be found here) at the company's Palo Alto, California facility - home of Rivian's autonomy and technology teams. Thank you to the team for hosting us! Attendee anticipation was met by Rivian's tangible excitement, with team members eager to unveil and explain the manifestation of years of dedication. Kudos!"

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

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Disclosure: None.