![]() ![]() Meanwhile, Wedbush Securities reeled in its 12-month price target on Rivian ( RIVN) to $25 from $37 to reflect the slower growth trajectory. ![]() The firm stuck with an Equal-weight rating on RIVN and price target of $18. Cash burn was also called a growing concern given the slow ramp. Wells Fargo said it is skeptical of Rivian's ( RIVN) new target of positive 2024 gross margins. The firm see FY23 as a pivotal year for RIVN to show it can achieve a path to gross margin breakeven in FY24. ![]() On Wall Street, Morgan Stanley cut its price target to $26 from $28, while keeping an Overweight rating.Īnalyst Adam Jonas said that RIVN’s Q4 showed improvement in cost control, but the FY23 guidance on production, gross margins, and cash consumption disappointed. Rivian Automotive ( NASDAQ: RIVN) dropped 14.20% after the EV maker's full-year outlook rattled investors and analysts. ![]()
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