Barclays lowered the firm’s price target on Rivian Automotive to $13 from $16 and keeps an Equal Weight rating on the shares as part of a Q3 earnings preview for the autos and mobility space. The firm continues to favor car makers over suppliers. However, suppliers face weak investor sentiment, and hopes are emerging of an end to negative estimate revisions, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RIVN:
- ‘Brace for a Substantial Growth Slump,’ Says Investor About Rivian Stock
- Charged: Tesla under pressure following ‘Cybercab’ unveiling
- BYDDY vs. RIVN: Which Electric Vehicle Stock Is Better?
- Amazon’s New AI-Powered Tool to Streamline Package Delivery
- ‘Hold Out for Now,’ Says Deutsche Bank About Rivian Stock