Truist raised the firm’s price target on Rivian Automotive (RIVN) to $14 from $12 and keeps a Hold rating on the shares. The firm expects 2025 to remain another volatile year for the domestic electric vehicle sector with the fate of the passenger EV tax credit in jeopardy, the analyst tells investors. While the firm believes Rivian’s current vehicle lineup only sees modest benefits from the current credit, it will be looking ahead to see how the potential credit cancellation will affect the midrange R2 platform.
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