A Rivian electric truck is displayed near the Nasdaq MarketSite building in Times Square on November 10, 2021 in New York City.

Wall Street analysts have set a high bar for EV start-up Rivian Automotive following its blockbuster IPO last month, comparing CEO RJ Scaringe to Superman and saying the company’s “the one” capable of challenging Tesla.

Whether Rivian and Scaringe, who does resemble Clark Kent, can live up to the hype will begin Thursday after the markets close when the automaker reports its first quarterly financial results as a public company.

hile Rivian has given some earnings and production guidance as part of its IPO, investors will concentrate on any updates or changes to its plans. Specifically, vehicle production, consumer deliveries and pre-orders of its first electric vehicles.

The company’s revenue and financial results are less relevant at this point, as it attempts to ramp-up production of three products simultaneously at its plant in Normal, Ill. Its first EVs are the R1T pickup and R1S SUV for consumers and a commercial delivery van for Amazon.

Overall, Wall Street analysts are cautioning investors to expect some growing pains for Rivian, but they predict the company will successfully navigate such challenges and establish itself as a worthy competitor against Tesla and others in the EV industry.

“Auto investors who missed Tesla have struggled to make the case for legacy OEMs and a raft of de-SPAC EV start-ups over the past 12 months,” Morgan Stanley’s Adam Jonas wrote in an investor note last week initiating Rivian at overweight with a $147 a share price target. “While risks remain, we believe Rivian has all the key attributes to be ‘the one’ that won’t get away from your EV portfolio.”

[“source=cnbc”]