Rivian Automotive shares are trading lower after Barclays downgraded the stock from Overweight to Equal-Weight and lowered its price target from $25 to $16.
Portfolio Pulse from Benzinga Newsdesk
Rivian Automotive's stock trades lower following a downgrade by Barclays from Overweight to Equal-Weight and a reduction in the price target from $25 to $16.
February 12, 2024 | 1:49 pm
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Rivian Automotive's stock is trading lower after Barclays downgraded the stock and lowered its price target.
Barclays' downgrade from Overweight to Equal-Weight and the reduction in price target from $25 to $16 are significant factors likely to influence investor sentiment negatively in the short term. Such analyst actions often lead to immediate reactions in the stock market, and given Rivian's position in the competitive electric vehicle market, this downgrade could impact investor confidence and stock performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100