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Rivian Gets DA Davidson Upgrade as Analyst Says Valuation Now ‘More Reasonable’
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Rivian Gets DA Davidson Upgrade as Analyst Says Valuation Now ‘More Reasonable’
DA Davidson reversed course on Rivian on Wednesday, upgrading the EV maker to Neutral from Underperform — six weeks after cutting the rating over concerns about the company’s R2 launch expectations. The firm’s analyst Michael Shlisky said the stock’s recent decline — down 23.6% year to date as of publication — prompted the move. DA Davidson maintained a $14.00 price target. “We are upgrading RIVN to Neutral after the stock’s recent slide,” Shlis…
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