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Aptiv Stock Seeing Headwinds from Rivian-Volkswagen Deal
APTVAptiv(APTV) Schaeffers Investment Research·2024-06-26 15:07

Electric vehicle (EV) part manufacturer Aptiv PLC (NYSE:APTV) stock is dropping to four-year lows today, down 8.3% at 67.25atlastglance,afterPiperSandlerdowngradedthestockto"underweight"from"neutral."Thefirmalsoaddedinaprice−targetcutto67.25 at last glance, after Piper Sandler downgraded the stock to "underweight" from "neutral." The firm also added in a price-target cut to 63 from 78,citingriskfromtheRivian−Volkswagenventure.Morespecifically,EVname RivianAutomotive(RIVN)securedupto78, citing risk from the Rivian-Volkswagen venture. More specifically, EV name Rivian Automotive (RIVN) secured up to 5 billion in funding from Volkswagen Group, putting pressure on its sector peers and sending RIVN up 30% at last look. Head ...