Rivian Automotive Inc (NASDAQ:RIVN) shares are pushing higher Monday after Piper Sandler shifted its view on the electric vehicle maker from neutral to bullish.
Rivian Automotive stock is charging ahead with explosive momentum.
What's fueling RIVN momentum?
Piper Sandler Upgrades to Overweight Citing a De-Risked Setup Piper Sandler's Alexander Potter adjusted his rating on Rivian to Overweight from Neutral Monday and pushed the price objective to $20 from $18, a target built on a discounted cash flow framework that implies roughly 26% appreciation from where the stock currently trades.
Potter said three distinct changes in the company's situation warranted a fresh look and a more constructive outlook.
