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

Rivian (NASDAQ:RIVN) stock closed in the red yesterday after the electric vehicle (EV) company reported its production and deliveries for the first quarter. Rivian produced 13,980 vehicles, falling short of the Visible Alpha estimate of 14,250 vehicles by about 2%. Deliveries tallied in at 13,588 vehicles, beating the analyst estimate for 13,000 vehicles. The company has guided for full-year production of 57,000 vehicles compared to actual production of 57,232 vehicles in 2023. Rivian has also confirmed tha ...