Wells Fargo Maintains Equal-Weight on Rivian Automotive, Lowers Price Target to $11
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Colin Langan maintains an Equal-Weight rating on Rivian Automotive but lowers the price target from $15 to $11.
October 15, 2024 | 1:55 pm
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NEGATIVE IMPACT
Wells Fargo has maintained its Equal-Weight rating on Rivian Automotive but has lowered the price target from $15 to $11, indicating a less optimistic outlook.
The lowering of the price target by Wells Fargo suggests a less optimistic view on Rivian's future performance, which could lead to short-term downward pressure on the stock price. The Equal-Weight rating indicates a neutral stance, but the reduced price target is a negative signal.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100