Rivian Automotive shares are trading lower after Morgan Stanley downgraded the stock from Overweight to Equal-Weight and cut its price target from $16 to $13.
Portfolio Pulse from Benzinga Newsdesk
Rivian Automotive's stock is experiencing a decline following a downgrade by Morgan Stanley from Overweight to Equal-Weight, along with a reduction in its price target from $16 to $13.
September 25, 2024 | 2:20 pm
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Rivian Automotive's stock is under pressure due to a downgrade by Morgan Stanley, which lowered its rating from Overweight to Equal-Weight and reduced the price target from $16 to $13.
Morgan Stanley's downgrade and price target cut are significant negative signals for investors, likely leading to a short-term decline in Rivian's stock price. The downgrade from Overweight to Equal-Weight suggests a less optimistic outlook, and the reduced price target indicates lower expected future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100