tiprankstipranks
Rivian Automotive price target lowered to $18 from $20 at Baird
The Fly

Rivian Automotive price target lowered to $18 from $20 at Baird

Baird lowered the firm’s price target on Rivian Automotive (RIVN) to $18 from $20 and keeps an Outperform rating on the shares. The firm said Q3 results missed estimates for most key metrics with adjusted EBITDA outlook for the full year lowered. The reduced outlook is largely a function of the company’s previously lowered production outlook which will limit the ability to leverage fixed costs.

Don't Miss our Black Friday Offers:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App