Why Rivian Stock Is Falling Today
Rivian Automotive (NASDAQ: RIVN) stock is slipping in Tuesday's trading. The electric vehicle (EV) company's share price was down 4.6% as of 2:30 p.m. ET.
D.A. Davidson published a note today lowering its sales forecast for Rivian, according to reporting from the blog EV. On the other hand, D.A. Davidson maintained its rating and price target for Rivian stock.
D.A. Davidson's analysts lowered their sales target for Rivian's current fiscal year to $4.73 billion, down from their previous target for sales of $5 billion. The analysts cited potential production shortfalls and supply chain issues. Meanwhile, the investment firm reiterated a neutral rating on the stock and a $13-per-share one-year price target.
Source Fool.com
