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Why Rivian Stock Is Higher Today

TheMotleyFool

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Why Rivian Stock Is Higher TodayPhoto, wide shot, wide-angle lens, soft focus, Car rental company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-C39HK7mRtkD4E8dIGhNKdJKJ.png?st=2023-05-14T13%3A30%3A04Z&se=2023-05-14T15%3A30%3A04Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-13T20%3A57%3A44Z&ske=2023-05-14T20%3A57%3A44Z&sks=b&skv=2021-08-06&sig=c7kEiWtHt1KibrlL7jP9uEmEuV%2BuAnv1nRBACXoedSk%3D

Shares of Rivian Automotive (NASDAQ: RIVN) were trading higher on Monday. Rivian last Thursday unveiled two future models to widespread acclaim, leading one Wall Street bank to boost its price target on the stock on Monday morning.

As of 1 p.m. ET, Rivian's shares were up about 3.4% from Friday's closing price.

In a new note on Monday morning, analysts at UBS raised the bank's price target on Rivian to $9, from $8. But the bank maintained its previous sell rating on Rivian's shares, citing concerns about the company's cash reserves.

Source Fool.com

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