Guggenheim lowered the firm’s price target on Rivian Automotive (RIVN) to $16 from $18 and keeps a Buy rating on the shares. FY25 guidance is light compared to consensus and deliveries are expected to decline, says the analyst, who cites the removal of the R1 platform from its sum-of-the-parts valuation for the firm’s lowered price target. Near-term potential catalysts include Rivian CEO RJ Scaringe presenting at the Nvidia (NVDA) GTC in March, which is a potential positive, and the possible removal of IRA leasing subsidies in the near-term, which is a potential negative, the analyst tells investors.
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