Wall Street analyst downgrades Rivian stock after Trump's win

Although the markets have received Donald Trump’s election positively, an analyst is warning that the power shift might not be ideal for electric vehicle manufacturer Rivian (NASDAQ: RIVN). Particularly, Bank of America (NYSE: BAC) has downgraded Rivian stock from ‘Buy’ to ‘Neutral’ and reduced its price target from $20 to $13, citing potential bearish sentiments from possible Trump policies on the EV space. In an investor note on November 8, BofA analyst John Murphy stated that the decision reflects potent ...