Wells Fargo Just Raised Its Price Target on Rivian (RIVN) Stock

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 $18 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 $757 million. That’s compared to FactSet’s current consensus of an $859 million loss. This in itself is the result o ...