Barclays raised the firm’s price target on Rivian Automotive to $16 from $14 and keeps an Equal Weight rating on the shares as part of a Q2 preview for the autos and mobility group. The analyst again favors car manufacturers into the Q2 prints citing steady pricing and potential guide raises. Suppliers have opportunity for outperformance given “very weak” investor sentiment, but the set-ups are mixed by program exposure, the analyst tells investors in a research note.
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