Analyst: 3 Reasons to Target Rivian Stock

Piper Sandler upgraded the shares of electric vehicle (EV) giant Rivian Automotive Inc (NASDAQ:RIVN) to "overweight" from "neutral," and hiked its price target to $21 from $15. The analyst cited the stock's valuation, as well as the company's cash, and its new vehicle platform -- the R2 SUV that will start at around $45,000. In response, RIVN is up 3.5% to trade at $11.10 in premarket trading.When we last covered Rivian stock, J.P. Morgan Securities initiated bullish coverage. We also noted that there was r ...