Rivian shares are trading lower after UBS downgraded the stock from Buy to Sell and lowered its price target from $24 to $8.
Portfolio Pulse from Benzinga Newsdesk
Rivian's stock price has decreased following a downgrade by UBS from Buy to Sell, with a significant reduction in the price target from $24 to $8.
February 23, 2024 | 4:30 pm
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Rivian's stock price is expected to face downward pressure in the short term due to UBS's downgrade from Buy to Sell and a lowered price target from $24 to $8.
Analyst ratings and price target adjustments are significant indicators of a stock's future performance. UBS's downgrade from Buy to Sell, coupled with a drastic reduction in the price target for Rivian, suggests a bearish outlook on the company's financial health and market performance. This is likely to influence investor sentiment negatively, leading to a decrease in stock price in the short term.
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