Barclays Maintains Equal-Weight on Rivian Automotive, Lowers Price Target to $10
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Dan Levy has maintained an Equal-Weight rating on Rivian Automotive (RIVN) but has lowered the price target from $12 to $10.
April 19, 2024 | 3:01 pm
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Barclays maintains an Equal-Weight rating on Rivian Automotive and lowers the price target from $12 to $10.
The reduction in price target by Barclays, a major financial institution, could lead to a negative short-term sentiment among investors, potentially causing a decrease in RIVN's stock price. The maintenance of an Equal-Weight rating indicates that the analyst sees the company as fairly valued at its current price, but the lowered price target suggests a reduced confidence in the stock's growth potential in the near term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100