Berenberg Bank Started Coverage on Arrival With Buy Rating and $17 Price Target
Analysts at Berenberg Bank initiated coverage on Arrival (NASDAQ:ARVL), an electric commercial van and bus manufacturer that de-SPACed in March 2021, with a buy rating and a $17 price target.
According to the analysts, the company is differentiated by its innovative new approach to manufacturing electric vehicles through a highly automated and vertically integrated microfactory model. The Arrival micro-factories will require less CAPEX, lower operating costs, and a shorter time to produce than traditional plants while enabling production flexibility and localizing the manufacturing footprint.
While there is an inherent risk associated with a pre-revenue and pre-production company, the company has spent years developing its vehicle architecture and microfactory model and has visibility to several key milestones over the next 12- 18 months with the potential to disrupt the legacy automotive model.
| Symbol | Price | %chg |
|---|---|---|
| 005389.KS | 142000 | -0.7 |
| 005380.KS | 191800 | -1.04 |
| 005387.KS | 143200 | -2.3 |
| 005385.KS | 141400 | -1.06 |
