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Rivian Stock Jump-Starts With Analyst Upgrade After The Bell

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Rivian Automotive Inc (NASDAQ:RIVN) shares are trading higher in Thursday’s after-hours session following an upgrade from Piper Sandler.

What Happened: Piper Sandler analyst Alexander Potter upgraded Rivian from a Neutral rating to an Overweight rating and raised the price target from $15 to $21.

There are several contributing factors that influenced the upgrade including last week’s R2/R3 launch event, a renewed capital expenditures outlook and the recent selloff in shares.

Potter made it clear that buying Rivian shares at current levels is still …

Full story available on Benzinga.com

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