UBS Downgrades Rivian Automotive to Sell, Lowers Price Target to $8
Portfolio Pulse from Benzinga Newsdesk
UBS analyst Joseph Spak downgraded Rivian Automotive (RIVN) from Buy to Sell and reduced the price target from $24 to $8.

February 23, 2024 | 11:21 am
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Rivian Automotive's stock rating was downgraded by UBS from Buy to Sell, with a significant reduction in the price target from $24 to $8.
The downgrade by a major analyst like UBS from Buy to Sell, accompanied by a drastic reduction in the price target, is likely to negatively impact investor sentiment and Rivian's stock price in the short term. Such a significant adjustment suggests a bearish outlook on the company's future performance and valuation, which could lead to a decrease in stock price as investors adjust their expectations.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100