Rivian shares are trading higher after Stifel initiated coverage on the stock with a Buy rating and $23 price target.
Portfolio Pulse from Benzinga Newsdesk
Stifel has initiated coverage on Rivian Automotive, Inc. with a Buy rating and a price target of $23, leading to an increase in the company's stock price.
December 07, 2023 | 1:53 pm
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Rivian's stock price has risen following Stifel's initiation of coverage with a Buy rating and a $23 price target.
Analyst ratings, especially initiations of coverage with a Buy rating, can have a significant positive impact on a stock's price in the short term. The $23 price target suggests a potential upside from the current trading price, which can lead to increased investor interest and buying pressure.
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