Truist Just Raised Its Price Target on Rivian (RIVN) Stock
RIVNRivian Automotive(RIVN) Investor Place·2024-08-03 00:58

Rivian (NASDAQ:RIVN) stock is in the red today despite a positive note from Truist Securities. The fall is based on macroeconomic factors rather than company-specific factors, as the S&P 500 is down by about 2% today.Truist analyst Jordan Levy raised his RIVN stock price target to 16from16 from 13 while reiterating a “hold” rating. Levy’s price target was as high as $65 back in September 2022.Levy applauded Rivian’s efforts to adjust its growth plans in order to save on costs. He’s likely referring to the compa ...