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

Rivian Automotive (RIVN) target cut at Barclays

April 19, 2024 1:23 PM EDT

On Friday, Barclays adjusted its financial outlook for Rivian Automotive (NASDAQ: RIVN), reducing the electric vehicle manufacturer's price target from $12 to $10 while maintaining an Equal-Weight rating. The reassessment comes as the company navigates through a period of greater capital constraints that are expected to soften its path of volume growth.

Barclays highlighted a strategic shift with Rivian's R2 model start of production at its Normal facility and the postponement of its Georgia plant as key factors influencing the decision. This move is anticipated... More

Rivian Automotive Inc (RIVN) PT Lowered to $13 at Needham on "slower EV adoption ahead of the R2 vehicle launch"

April 18, 2024 7:09 AM EDT

(Updated - April 18, 2024 7:10 AM EDT)

Needham analyst Chris Pierce lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $13.00 (from $18.00) while maintaining a Buy rating.

The analyst commented: "We reiterate our Buy rating on RIVN but lower our... More

Rivian cuts 1% of workforce in second round of layoffs this year

April 17, 2024 3:14 PM EDT

By Abhirup Roy and Akash Sriram

SAN FRANCISCO (Reuters) -Electric vehicle maker Rivian said on Wednesday it cut about 1% of its workforce - the second round of job cuts this year - as it reduces cost amid a broader slowdown in EV demand.

Shares of Rivian, up as much as 3.4% on Wednesday, pared almost all of its gains after the news. The shares closed up 1% on Thursday.

"This was a difficult decision, but a necessary one to support our goal to be gross margin positive by the end of the year," the... More

Rivian Automotive Inc (RIVN) PT Lowered to $11 at RBC Capital

April 17, 2024 2:41 AM EDT

RBC Capital analyst Joseph Spak lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $11.00 (from $15.00) while maintaining a Sector Perform rating.... More