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Rivian Automotive shares rose 3.6% on Wall Street after Mizuho raised its target price on the stock from $27 to $30.
Mizuho expects the EV maker to exceed its annual delivery goal of 50,000 units amid strong demand for EVs.
Since the beginning of July, the stock has risen by 55% and is preparing to archive its best month ever on the stock market.
According to analysts, Rivian is managing production well, as evidenced by the strong second quarter shipments report.