Jefferies Upgrades Rivian Automotive to Buy Following Share Price Correction
Jefferies has upgraded Rivian Automotive (RIVN) from 'Hold' to 'Buy,' maintaining a price target of $17. The upgrade follows a recent correction in the company's share price, which analysts view as an attractive entry point for investors. The decision is driven by optimism regarding Rivian's operational trajectory, specifically its progress toward achieving positive automotive gross margins. Following the announcement, Rivian shares saw an initial upward movement of approximately 6% during Friday's market opening.
Tickers: $RIVN
Topics: Analyst Upgrades Automotive Margins Electric Vehicles
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Part of the story Jefferies Upgrades Chemed to Buy with Higher Price Target Following Earnings Beat (4 articles)