Rivian Automotive shares are trading lower after Deutsche Bank downgraded the stock from Buy to Hold and lowered its price target from $29 to $19.
Portfolio Pulse from Benzinga Newsdesk
Rivian Automotive's stock (RIVN) trades lower following a downgrade by Deutsche Bank from Buy to Hold and a reduction in the price target from $29 to $19.

January 17, 2024 | 1:40 pm
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Rivian Automotive's stock price is likely to experience downward pressure in the short term due to Deutsche Bank's downgrade and lowered price target.
Analyst ratings and price target adjustments are significant drivers of stock price movements. Deutsche Bank's downgrade from Buy to Hold suggests a less optimistic outlook on Rivian's future performance. Additionally, the substantial decrease in the price target from $29 to $19 indicates a lowered expectation of the company's valuation, which can lead to a negative investor sentiment and a potential decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100