BofA downgraded Rivian Automotive (RIVN) to Neutral from Buy with a price target of $13, down from $20. While noting that the company is on track for a positive gross margin in Q4 and calling it “one of the most viable among the startup EV automakers,” the firm notes that positive gross margin will be supported by regulatory credits that could be at risk under the Trump administration. BofA also now expects only moderate growth in deliveries in 2025, the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on RIVN:
- Rivian Automotive downgraded to Neutral from Buy at BofA
- Rivian’s Q3 2024 Results and Future Outlook
- Rivian (NASDAQ:RIVN) and LG Energy Solution Announce Strategic Supply Agreement
- Rivian Automotive reports Q3 EPS ($1.44) , consensus (92c)
- Rivian Automotive enters into strategic supply agreement with LG Energy
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
