UBS downgraded Rivian (RIVN) to Sell from Neutral with a price target of $15, up from $13. The firm cites “elevated expectations” for the downgrade. Rivian shares are “prone to sentiment swings” and the stock is up 15% since the company’s autonomy and AI day on December 11, the analyst tells investors in a research note. However, UBS believes most of Rivian’s AI related news is out. It also thinks expectations may be too high for the R2 launch.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RIVN:
- Wolfe Research Sounds the Alarm on Rivian Stock (RIVN)
- Charged: EU sets guidance on price offers for Chinese EV exports
- EU provides guidance on price offers for EV exports from Chinese manufacturers
- Mixed options sentiment in Rivian with shares down 0.21%
- Morning News Wrap-Up: Monday’s Biggest Stock Market Stories!