Deutsche Bank Downgrades Rivian Automotive to Hold, Lowers Price Target to $19
Portfolio Pulse from Benzinga Newsdesk
Deutsche Bank analyst Emmanuel Rosner has downgraded Rivian Automotive (NASDAQ:RIVN) from Buy to Hold and reduced the price target from $29 to $19, indicating a more cautious outlook on the company's stock.
January 17, 2024 | 12:36 pm
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Rivian Automotive's stock rating has been downgraded by Deutsche Bank from Buy to Hold, with a lowered price target from $29 to $19, suggesting a potential decrease in stock value.
Analyst downgrades typically lead to a negative perception of the stock in the short term as they suggest a lower expected performance. The reduction in price target from $29 to $19 by a major bank like Deutsche Bank can have a significant impact on investor sentiment and could lead to a decrease in Rivian's stock price in the short term.
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