Why Rivian Stock Is Accelerating To The Upside In Today's Premarket
Portfolio Pulse from Shanthi Rexaline
Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) rose sharply in premarket trading, reversing some of the recent downward trend. This follows bullish calls from UBS and Needham analysts, despite a recent price target reduction by Wedbush. UBS upgraded Rivian from Neutral to Buy, citing attractive valuation due to recent weakness. Needham reiterated a Buy rating and $31 price target, highlighting Rivian's strong performance and potential for improved future performance.
October 10, 2023 | 11:49 am
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Rivian's stock rose in premarket trading following bullish calls from UBS and Needham analysts. This could indicate a potential short-term upward trend for the stock.
The bullish calls from UBS and Needham analysts, despite a recent price target reduction by Wedbush, have likely contributed to the rise in Rivian's stock in premarket trading. This could indicate a potential short-term upward trend for the stock.
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IMPORTANCE 80
RELEVANCE 100