Rivian Automotive price target lowered to $28 from $43 at Deutsche Bank

Deutsche Bank analyst Emmanuel Rosner lowered the firm’s price target on Rivian Automotive to $28 from $43 and keeps a Buy rating on the shares. The analyst expects a mixed Q4 earnings and 2023 guidance season for U.S. autos, with several companies potentially missing quarterly consensus estimates, and most of them likely to issue cautious 2023 guidance amid ongoing choppy industry conditions and macro uncertainty.