Mizuho analyst Vijay Rakesh lowered the firm’s price target on Rivian Automotive (RIVN) to $12 from $15 and keeps a Neutral rating on the shares. The firm believes electric vehicle demand remains challenged. As such, it took an updated look at Rivian’s potential outlook for the remainder of 2024 and 2025. The company has a good product roadmap with its lower-cost R2 in the first half of 2026, while the VW deal provides improved balance sheet with less liquidity risk, the analyst tells investors in a research note. However, Mizuho sees U.S. EVs “softer with potential demand challenges.”
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