Guggenheim analyst Ronald Jewsikow lowered the firm’s price target on Rivian Automotive (RIVN) to $18 from $21 and keeps a Buy rating on the shares. The firm, which is updating estimates ahead of Rivian Q3 earnings due this Thursday, notes that the primary drivers to its Q3 and FY24 estimates include the supplier issue that has continued into Q4 and the associated production/delivery downside resulting from that issue.
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