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Benzinga
Benzinga
Business
Rachit Vats

Rivian Sees Price Target Halved At Wedbush: Analyst Sees Potential But It's Time To 'Stop The Excuses'

Rivian Wedbush Dan Ives Nasdaq Rivian Automotive Inc RIVN electric vehicle

Rivian Automotive Inc (NASDAQ:RIVN) has the potential to be a major electric vehicle stalwart over the next decade but it needs to start delivering models and "stop the excuses" to reach that goal, Wedbush analyst Dan Ives said on Wednesday as he halved his price target on the stock.

The Rivian Analyst: Ives has maintained an ‘outperform’ rating on Rivian, saying it is a long-term winner in the electric-vehicle segment and cut the price target to $30 per share from $60 to reflect a lower multiple and reduced numbers.

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