Barclays lowered the firm’s price target on Rivian Automotive to $13 from $16 and keeps an Equal Weight rating on the shares as part of a Q3 earnings preview for the autos and mobility space. The firm continues to favor car makers over suppliers. However, suppliers face weak investor sentiment, and hopes are emerging of an end to negative estimate revisions, the analyst tells investors in a research note.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RIVN:
- ‘Brace for a Substantial Growth Slump,’ Says Investor About Rivian Stock
- Charged: Tesla under pressure following ‘Cybercab’ unveiling
- BYDDY vs. RIVN: Which Electric Vehicle Stock Is Better?
- Amazon’s New AI-Powered Tool to Streamline Package Delivery
- ‘Hold Out for Now,’ Says Deutsche Bank About Rivian Stock