UBS analyst Joseph Spak upgraded Rivian Automotive to Neutral from Sell with an unchanged $9 price target. The near-term risk-reward on the stock has become more balanced at current levels as shares now price in about $4.5B in 2025 sales vs. consensus that stands still at $7.5B, the analyst tells investors in a research note. Short interest on the stock has also climbed to about 19% of free float, positioning the name better if a positive data point or a catalyst emerges, even though shares alre likely to remain volative, the firm added. UBS further notes “solid” demand for Rivian vehilces despite the slowing EV market as one of the factors behind its bull thesis, though a reluctance by investors to buy shares ahead of a likely capital raise underpins the bear case.
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