Rivian Price Target Raised, Analyst Remains Neutral on Stock
Rivian Automotive’s stock (NASDAQ: RIVN) closed out the last week of trading with gains of 8.94%, only to start the new week with a price target raise. RIVN is trading 0.5% higher in this morning’s pre-market, as Goldman Sachs’ updated analysis, which increased the firm’s price target to $15 from $12 while maintaining a Neutral rating adds further fuel for bulls, despite sitting below the current trading price.
The stock, trading on the NASDAQ, closed out Friday at $15.59 as views on the electric vehicle (EV) market and Rivian’s strategic position within it continue to shift.
Goldman Sachs’ revised target price suggests a degree of optimism, yet the continued Neutral rating indicates lingering concerns about the company’s ability to…
