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Stock impact report

Wall Street Gets Charged Up on Rivian Despite Short-Circuiting EV Market [Yahoo! Finance]

Rivian Automotive, Inc. (RIVN) 
Company Research Source: Yahoo! Finance
The Irvine, California-headquartered EV manufacturer scored an upgrade last week from Baird analyst Ben Kallo, who changed his rating for the stock to “Buy” from “Hold” and raised his price target to $25 per share from $14. Kallo wrote that “2026 is the year of R2” — the company's new midsize SUV. The automaker's stock popped 15% Thursday following the news, ending the trading day up more than 50% for the year. On Friday, Wedbush raised its price target for Rivian to $25 per share from $16. The increased price targets came just a week after Rivian announced it had developed its own artificial intelligence chip, making it less dependent on Nvidia, and that it was continuing its progress toward fully autonomous vehicles by expanding its hands-free driving feature. (Investors didn't seem convinced the move would translate to growth, and the stock fell roughly 6.1% that day). A Dec. 18 update from the company says that tech improvements will allow drivers to take their hands off the st Show less Read more
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