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Mizuho Stays Bullish on Tesla, Rivian and Nio Amid Near-Term Supply Challenges

Seeking Alpha2022-10-06

Mizuho issued positive comments on the electric vehicle sector on Thursday.

The Japanese firm said it believed the September quarter was mostly in-line. Even though supply and logistics are expected to remain a challenge in theEV sector, Mizuho continues to see strong demand with a multi-year electrification transition underway led by China.

After factoring in the recent deliveries updates from Tesla (TSLA), Nio (NIO), and Rivian Automotive (NASDAQ:RIVN) - analyst Vijay Rakesh and team forecast China EV penetration exiting the quarter could be close to 25% to 30% of auto sales.

"Despite some near-term challenges, we continue to see vertically-integrated EV companies TSLA, RIVN and NIO well-positioned with secular growth drivers as legacy auto OEMs struggle to balance ICE/EV portfolios."

Mizuho reiterated Buy ratings on Rivian (RIVN), Tesla (TSLA), and Nio (NIO). The price target on TSLA was trimmed to $370 and the PT on Nio was reduced slightly to $40.

Rivian (RIVN) fell 1.88% in early trading on Thursday, while Tesla (TSLA) was down 1.79% and Nio (NIO) shed 6.3%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment11

  • tigernaut
    ·2022-10-07
    👍🏻
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  • Sysy
    ·2022-10-07
    K
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  • 来人
    ·2022-10-07
    Ok
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  • Mich77
    ·2022-10-07
    read
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    • Sysy
      o
      2022-10-07
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    • ACECHUA
      Ok
      2022-10-07
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    • Mich77
      k
      2022-10-07
      Reply
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  • Abundance Thankful
    ·2022-10-07
    Wow
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  • WilliamFish
    ·2022-10-07
    O
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  • andrew123
    ·2022-10-07
    Great
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  • Ccchia
    ·2022-10-07
    K
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  • iNkwiziTs
    ·2022-10-07
    Always bullish on EV. 
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  • Scalper88
    ·2022-10-07
    Many Tsla bulls oredi sell their shares....bcoz QT is dangerous
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    • Tall Guy
      Wow!
      2022-10-07
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  • Qingguo
    ·2022-10-06
    Ok
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