Rivian stock (NASDAQ: RIVN) is on the list of Monday’s top picks as BNP Paribas and Needham have given it a buy and strong buy call, respectively. RIVN is trading below the $15 mark and is available at a lower price, making it more affordable to retail investors. Traders feel that RIVN is a low-hanging fruit up for grabs, and they can afford to accumulate it with their salary or savings amount. Even Goldman Sachs has been massively accumulating Rivian stock and increased their position in the equity.
The recent price predictions for Rivian stock stand out, as two leading financial research firms have forecasted double-digit growth. The estimates put them above 50%, making them a prime equity watch out for on Monday’s opening bell. This makes RIVN a must-watch stock, as the upside potential for growth is immense. Taking an entry position below $15 can make traders make the best use of its low and bottoming out price.
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Rivian Stock Price Prediction: Top Pick For Monday
James Picariello, the Senior Auto Analyst at BNP Paribas, wrote in a note to clients that Rivian stock could reach a high of $22. He reiterated the buy rating, potentially allowing clients to make profits of up to 55%. An investment of $1,000 could turn into $1,500+ if the price prediction turns out to be accurate.
In addition, Chris Pierce, the stock analyst at Needham, has given Rivian the most bullish price prediction. According to his analysis, RIVN is projected to reach $23, which is higher than the forecast of BNP Paribas. If the estimates turn out to be accurate, traders could earn $1,600+ with an investment of $1,000. Both firms remain confident in RIVN’s prospects with their buy calls.
Rivian stock should be on investors’ watchlist on Monday, and consider entering below $15. Holding on to the equity for the next 12 months or more could deliver the desired results. RIVN is affordable, and retail traders can easily load up on the equity. Traders can also initiate dollar-cost-averaging (DCA) to make up for the losses.