Rivian Automotive Inc (RIVN) PT Lowered to $10 at Barclays

Barclays analyst Dan Levy lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $10.00 (from $12.00) while maintaining a Equalweight rating.

The analyst comments "Key takes: 1. Strategic shift around R2 SOP at Normal & delay of Georgia reduces pressure for capital raises but pushes out timing of mass scale; 2. We reduce our volume expectations through the end of the decade on softer R1/commercial van demand, delayed R2 ramp; 3. Cost reductions remain key focus; 4. EW, PT down to $10."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Sansera Engineering Ltd (SANSERA:IN) PT Raised to INR4,250 at ICICI Securities
• Apollo Hospitals (APLH:IN) PT Raised to INR8,500 at ICICI Securities