Rivian Stock Eyes 4-Month Lows After Downgrade

Rivian Automotive (NASDAQ:RIVN) stock is down 5.4% to trade at $11.19 today, after the U.S.-based electric vehicle name was downgraded to "equal-weight" from "overweight" at Morgan Stanley. The analyst in coverage also trimmed its price target to $13 from $16, expressing uncertainty over achieving positive free cash flow in the next five years. The price-target cut is especially notable, considering RIVN's consensus 12-month price target of $17.68 is a 58% premium from its current perch. And for a stock dow ...