Rivian price target lowered to $9 from $10 at JPMorgan

JPMorgan analyst Ryan Brinkman lowered the firm’s price target on Rivian (RIVN) to $9 from $10 and keeps an Underweight rating on the shares. The company reported a bigger than expected Q2 EBITDA loss and said it was likely to generate an even larger full year EBITDA loss, the analyst tells investors in a research note. The firm believes the path to profitability in the battery electric vehicle market remains highly challenging. It cut estimates for Rivian post the quarter.