Rivian production guidance falls short; shares slump
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CFRA Downgrades Rivian Automotive Inc (RIVN) to Sell
February 22, 2024 12:00 PM ESTCFRA analyst Garrett Nelson downgraded Rivian Automotive Inc (NASDAQ: RIVN) from Hold to Sell with a price target of $10.00 (from $20.00).
The analyst comments "We cut our 12-month target to $10 from $20. We lower our adjusted EPS estimates to -$3.75 from -$3.00 for '24 and to -$3.00... More
JPMorgan Downgrades Rivian Automotive Inc (RIVN) to Underweight
February 22, 2024 10:13 AM ESTJPMorgan analyst Ryan Brinkman downgraded Rivian Automotive Inc (NASDAQ: RIVN) from Neutral to Underweight with a price target of $11.00 (from $20.00).
The analyst comments "We are downgrading shares of Rivian Automotive (RIVN) to Underweight from Neutral after slashing our estimates and price target to account for substantially slower growth amidst continued large losses. The reasons for our downgrade are multifold, including: (1) The company has fallen far short of its own targets for vehicle sales and production, let alone the seemingly much more ebullient expectations of its investors, and disappointing new guidance revealed yesterday... More
Truist Securities on Rivian Automotive Inc (RIVN): 'We expect shares to take a hit'
February 22, 2024 4:45 AM ESTTruist Securities analyst Jordan Levy reiterated a Buy rating and $26.00 price target on Rivian Automotive Inc (NASDAQ: RIVN)
The analyst comments "Rivian reported a topline revenue beat and in-line EBITDA, while guidance for 2024 production came in below Street estimates both driven by the... More
