Needham Maintains Buy on Rivian Automotive, Lowers Price Target to $22
Portfolio Pulse from Benzinga Newsdesk
Needham analyst Chris Pierce has maintained a Buy rating on Rivian Automotive (NASDAQ:RIVN) but has reduced the price target from $25 to $22.

January 25, 2024 | 11:50 am
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Needham analyst reaffirms Buy rating on Rivian Automotive but lowers price target to $22, indicating a potential downside compared to the previous target of $25.
The reduction in price target by Needham suggests a tempered expectation for Rivian's stock performance, which could lead to a negative short-term reaction in the market. However, the maintenance of a Buy rating indicates a positive outlook on the company's fundamentals, which may mitigate some of the negative impact.
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