Rivian Stock Rises on Upgrade. Sometimes the Market Gives You a Gift.

Stocks can become buys for Wall Street analysts any number of ways. New management, new products, or a renewed focus on costs can all be catalysts analysts that analysts examine. Sometimes investors turn stocks into buys all by themselves.

An upgrade to Buy with a target cut is unusual. Recent trading in Rivian stock shows how it happened. Rivian shares closed September trading above $24 apiece. That was just 7% away from Spak’s old $26 price target. Not attractive enough for a Buy rating. What’s more, he sees Rivian’s fundamentals improving with rising production and sales. He forecasts about 55,000 units of production in 2023, better than Rivian’s guidance of about 52,000 units.

Better fundamentals and a lower price, thanks to what might have been an overreaction by investors, equals a new Buy rating.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

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