Needham Maintains Buy on Rivian Automotive, Lowers Price Target to $18
Portfolio Pulse from Benzinga Newsdesk
Needham analyst Chris Pierce maintains a Buy rating on Rivian Automotive (NASDAQ:RIVN) but lowers the price target from $20 to $18.

August 07, 2024 | 10:57 am
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NEUTRAL IMPACT
Needham analyst Chris Pierce maintains a Buy rating on Rivian Automotive but lowers the price target from $20 to $18.
The maintained Buy rating suggests continued confidence in Rivian's long-term prospects, but the lowered price target indicates some short-term concerns or adjustments in valuation. This mixed signal is likely to result in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100