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via finance.yahoo.comBusiness & Companies

UBS upgrades Rivian to Buy with $17 target after recent slide

FROM THE WIRE · FINANCE.YAHOO.COM

This article first appeared on GuruFocus. Shares of electric car producer Rivian Automotive Inc. (RIVN, Financials) climbed after UBS upgraded the company to Buy from Hold, citing better operational prospects after a recent selloff.UBS analyst Joseph Spak set a $17 price target…

Read at the source ↗
MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bullishA major bank's upgrade of a volatile EV stock can push its price in the short term.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01UBS upgraded Rivian to Buy from Hold with a $17 target, calling the recent slide a buying opportunity.
  2. 02Shares have dropped roughly 19% in the past month and more than 37% year to date.
  3. 03The investment case rests on the R2 SUV and expected positive vehicle gross margin by end-2026.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Rivian Automotive, Inc.RIVNStock13.59 USD+3.17%today +11.79%Positive
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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