Needham Just Slashed Its Price Target on Rivian (RIVN) Stock

Electric vehicle (EV) maker Rivian’s (NASDAQ:RIVN) stock fell after two brokers cut their price targets.Barclays and Needham both reduced expectations while maintaining buy or overweight ratings. Barclays sees Rivian going to $25 in a year and Needham to $22.Rivian was due to open this morning at $15 per share, down about 10% from its opening price on Jan. 24. The market capitalization is listed at $14.7 billion.Could Be Worse. Could Be Tesla.While Rivian and other EV makers like to claim they are “the next ...