Workflow
Wells Fargo Just Raised Its Price Target on Rivian (RIVN) Stock
RIVNRivian Automotive(RIVN) Investor Place· Investor Place·2024-07-18 17:22

Rivian (NASDAQ:RIVN) stock is just barely in the green today despite Wells Fargo increasing its price target by 80%. The bank raised the electric vehicle (EV) maker’s price target to 18persharefrom18 per share from 10 while maintaining its “equal weight” rating on the stock.The bank’s changing tune towards Rivian is seemingly the product of a slightly better projected EBITDA loss in its second quarter of 757million.ThatscomparedtoFactSetscurrentconsensusofan757 million. That’s compared to FactSet’s current consensus of an 859 million loss. This in itself is the result o ...