Truist Securities Downgrades Rivian Automotive Inc (RIVN) to Hold, 'Built for Rough Terrain, But Road Remains Rocky'

Rivian Automotive Inc (RIVN) PT Lowered to $12 at Barclays

Barclays analyst Dan Levy lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $12.00 (from $16.00) while maintaining a Equalweight rating.

The analyst comments "Key takes: 1. Demand weakness materializing amid softer order book, '24 volume guide reflects demand challenges; 2. Mgmt reaffirmed gross... More

Rivian Automotive Inc (RIVN) PT Lowered to $18 at Stifel

Stifel analyst Stephen Gengaro lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $18.00 (from $23.00) while maintaining a Buy rating.... More

Truist Securities Downgrades Rivian Automotive (RIVN) to Hold, 'see imminent capital needs continuing to put a ceiling on shares'

(Updated - February 23, 2024 5:13 PM EST)

Truist Securities analyst Jordan Levy downgraded Rivian Automotive Inc (NASDAQ: RIVN) from Buy to Hold with a price target of $11.00 (from $26.00).

The analyst commented: "Recognizing the already significant hit shares have taken, our... More

Rivian to be impacted by "tepid demand" for electric vehicles - UBS

Investing.com -- Flagging demand for electric vehicles makes Rivian (NASDAQ: RIVN)'s path towards profitability and cash flow "onerous," analysts at UBS have said in a note downgrading their rating of the firm to "Sell" from "Buy."

The analysts added that... More

Midday movers: Nvidia erases gain; Carvana and Block rise

(Updated - February 23, 2024 11:10 AM EST)

Investing.com -- Main U.S. indexes consolidated Friday, trading in tight ranges after the previous sessions dramatic Nvidias inspired rally.

Here are some of the biggest U.S. stock movers today:

Nvidia (NASDAQ: NVDA) stock rose as much as 4.9% with the artificial intelligence chip designer continuing to see demand after adding a staggering $277 billion in market capitalization on Thursday, setting a record for the biggest one-day jump in history. Shares reversed... More

UBS Downgrades Rivian Automotive Inc (RIVN) to Sell, 'Heading off-road'

(Updated - February 23, 2024 4:01 AM EST)

UBS analyst Joseph Spak downgraded Rivian Automotive Inc (NASDAQ: RIVN) from Buy to Sell with a price target of $8.00 (from $24.00).

The analyst comments "We downgrade RIVN to Sell. We had been optimistic on RIVNs product... More

Analysts cut ratings on Rivian Automotive (RIVN) as EV slump extends

Analysts have moved to downgrade the shares of Rivian Automotive (NASDAQ: RIVN) on Thursday as the slump across electric vehicle stocks continues.

Electric Vehicle Stocks Decline

Shares of RIVN have declined more than 25% after the company's disappointing earnings release after the close on Wednesday. The company's production guidance also missed expectations when it said it would reduce its salaried workforce by around 10%.

Another EV company, Lucid Group, also forecast production below analyst expectations, with its share... More

CFRA Downgrades Rivian Automotive Inc (RIVN) to Sell

CFRA 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

Rivian Automotive Inc (RIVN) PT Lowered to $25 at BofA Securities

BofA Securities analyst John Murphy lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $25.00 (from $40.00) while maintaining a Buy rating.... More

JPMorgan Downgrades Rivian Automotive Inc (RIVN) to Underweight

JPMorgan 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

Rivian Automotive Inc (RIVN) PT Lowered to $17 at DA Davidson

DA Davidson analyst Michael Shilsky lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $17.00 (from $19.00) while maintaining a Neutral rating.... More

Rivian, Lucid tumble as slowing EV demand upsets ramp-up plans

By Akash Sriram

(Reuters) -Rivian Automotive and Lucid Group tumbled on Thursday after their earnings reports pointed to the impact of slowing electric-vehicle demand on their costly ramp-up plans.

Rivian tanked 25% to a record low after it forecast flat growth in annual production, also hurt by a shutdown of its assembly line for upgrades. Lucid sank 9% as its production forecast also came below estimates.

The companies said an uncertain economic outlook and high interest rates were hitting demand for EVs, echoing remarks from market leader Tesla and legacy automakers like Ford.

"Despite having built a... More

Midday movers: Nvidia, Moderna rise; Etsy, Rivian fall

(Updated - February 22, 2024 11:22 AM EST)

Investing.com -- Main U.S. indexes rose strongly Thursday after blockbuster results from AI darling Nvidia helped boost sentiment, ahead of the release of more corporate earnings and important economic data.

Here are some of the biggest U.S. stock movers today

Nvidia (NASDAQ: NVDA) stock soared 15% after the worlds most valuable chipmaker reported better-than-expected fourth-quarter revenue and outlined a bullish forecast for artificial intelligence-fueled chip... More

Rivian Automotive Inc (RIVN) PT Lowered to $12 at Deutsche Bank

Deutsche Bank analyst Emmanuel Rosner lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $12.00 (from $16.00) while maintaining a Hold rating.... More

Rivian Automotive Inc (RIVN) PT Lowered to $20 at Canaccord Genuity

Canaccord Genuity analyst George Gianarikas lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $20.00 (from $30.00) while maintaining a Buy rating.... More

Rivian Automotive Inc (RIVN) PT Lowered to $14 at Wells Fargo

Wells Fargo analyst Colin Langan lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $14.00 (from $18.00) while maintaining a Equal Weight rating.... More

Rivian Automotive Inc (RIVN) PT Lowered to $18 at Needham & Company

Needham & Company analyst Chris Pierce lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $18.00 (from $22.00) while maintaining a Buy rating.... More

Rivian Automotive Inc (RIVN) PT Lowered to $24 at Mizuho Securities

Mizuho Securities analyst Vijay Rakesh lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $24.00 (from $30.00) while maintaining a Buy rating.... More

Rivian Automotive Inc (RIVN) PT Lowered to $23 at Cantor Fitzgerald

Cantor Fitzgerald analyst Andres Sheppard lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $23.00 (from $27.00) while maintaining a Overweight rating.... More

Rivian Automotive Inc (RIVN) PT Lowered to $23 at Baird

Baird analyst George Gianarikas lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $23.00 (from $30.00) while maintaining a Outperform rating.... More

S&P 500, Nasdaq futures rise as Nvidia pops on strong outlook

Investing.com-- S&P 500 and Nasdaq futures rose in evening deals on Wednesday, with the latter leading gains as optimism over a strong outlook from AI darling Nvidia drove investors into technology stocks.

Dow futures, however, were muted following a string of other weak earnings reports, while the minutes of the Federal Reserves late-January meeting showed the bank in no hurry to begin cutting interest rates. 

S&P 500 Futures rose 0.4% to 5,018.75 points, while Nasdaq 100 Futures futures rose 0.9% to 17,688.25 points by 18:12 ET (23:12 GMT). Dow Jones Futures fell 0.1% to 38,646.00 points. Outsized gains in the Nasdaq... More

Nvidia's blockbuster earnings, Fed minutes - what's moving markets

Investing.com -- Nvidia's revenue skyrockets above Wall Street projections in the fourth quarter, sending shares in the artificial intelligence chipmaking giant's soaring in extended trading. Elsewhere, minutes from the Federal Reserve's January meeting show that officials at the U.S. central bank were wary about cutting interest rates too soon.

1. Nvidia revenues top estimates as chipmaker hails AI "tipping point"

Shares in Nvidia (NASDAQ: NVDA) jumped in U.S. after market trade on Wednesday, touching a new record high, after the chipmaker clocked stronger-than-expected fourth-quarter revenues and... More

Truist Securities on Rivian Automotive Inc (RIVN): 'We expect shares to take a hit'

Truist 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