Piper Sandler analyst Alexander Potter lowered the firm’s price target on Rivian Automotive (RIVN) to $19 from $21 and keeps an Overweight rating on the shares following Q3 results. Piper told investors in a research note that production outlook is being negatively impacted by supply chain disruptions, but the downward impact on guidance was likely anticipated, due to a disclosure by Rivian on October 4.
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Read More on RIVN:
- Notable open interest changes for November 8th
- Rivian Automotive price target lowered to $23 from $28 at Canaccord
- Rivian Automotive price target lowered to $18 from $20 at Baird
- Rivian Automotive downgraded to Neutral at BofA on regulatory credit risk
- Rivian Automotive downgraded to Neutral from Buy at BofA