Barclays Downgrades Rivian Automotive to Equal-Weight, Lowers Price Target to $16
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Dan Levy downgraded Rivian Automotive (RIVN) from Overweight to Equal-Weight and reduced the price target from $25 to $16.
February 12, 2024 | 10:42 am
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Barclays downgraded Rivian Automotive to Equal-Weight and lowered the price target to $16.
The downgrade by Barclays from Overweight to Equal-Weight, along with a significant reduction in the price target from $25 to $16, suggests a less optimistic outlook on Rivian's stock performance in the short term. This could lead to negative investor sentiment and potentially lower stock prices.
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