Goldman Sachs raised the firm’s price target on Rivian Automotive (RIVN) to $12 from $10 and keeps a Neutral rating on the shares. The firm is positive on the company announcing the closing of its deal with VW (VWAGY) as it is significantly improving Rivian’s balance sheet and liquidity, the analyst tells investors in a research note. The deal is also “emblematic” of the importance of the underlying vehicle tech platforms, including the ability to effectively sell software and service, Goldman Sachs adds.
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