What's Going On With Rivian Automotive Stock Today?
Portfolio Pulse from Erica Kollmann
Rivian Automotive's stock is trading slightly higher after a significant drop due to a Morgan Stanley downgrade. The downgrade was influenced by increased spending forecasts related to Rivian's partnership with Volkswagen. Rivian may benefit from U.S. tariffs on Chinese EV imports. Despite the recent downgrade, analysts have a positive outlook on Rivian with an average price target suggesting potential upside.
September 26, 2024 | 4:06 pm
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Rivian's stock is recovering slightly after a downgrade by Morgan Stanley, which cited increased spending due to a partnership with Volkswagen. The company might benefit from U.S. tariffs on Chinese EVs, potentially boosting its market position.
The downgrade by Morgan Stanley led to a significant drop in Rivian's stock, but the potential benefits from U.S. tariffs on Chinese EVs could provide a positive outlook. Analysts' average price target suggests potential upside, indicating a likely short-term positive impact.
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IMPORTANCE 80
RELEVANCE 100