Rivian Analyst Drops Bullish Stance Ahead Of Earnings: Find Out Why And What EV Stocks He Prefers
Portfolio Pulse from Chris Katje
Cantor Fitzgerald analyst Andres Sheppard has downgraded Rivian Automotive (RIVN) from Overweight to Neutral, citing increased valuation and competition in the electric pickup truck market. Sheppard also increased the price target for RIVN from $27 to $29. The analyst also shared his views on the overall electric vehicle industry, reiterating Overweight calls on Lucid Group (LCID) and Polestar Automotive (PSNY).
August 04, 2023 | 9:40 am
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POSITIVE IMPACT
Lucid Group has been reiterated as Overweight by Cantor Fitzgerald analyst, despite pre-announced second-quarter figures that were below estimates.
Despite lower than expected Q2 figures, the analyst's Overweight rating indicates a positive outlook for the stock in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Polestar Automotive has been reiterated as Overweight by Cantor Fitzgerald analyst, with positive outlook based on recent deliveries and agreement with Hertz Global Holdings.
The analyst's Overweight rating and positive outlook based on recent deliveries and agreement with Hertz indicate a positive impact on the stock in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Rivian has been downgraded from Overweight to Neutral by Cantor Fitzgerald analyst due to increased valuation and competition in the electric pickup truck market.
The downgrade by the analyst is based on increased valuation and competition, which could potentially impact the stock negatively in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100