Piper Sandler Upgrades Rivian to Overweight, Raises Target Price to $20 on July 27

RIVN3.97%
According to Piper Sandler via CNBC, on July 27, the investment bank upgraded Rivian (NAS:RIVN) from neutral to overweight and set a $20 target price, approximately 26% above the previous close. Analyst Alexander Potter cited the successful launch of the R2 SUV, improved delivery guidance driven by rising gasoline prices and renewed EV interest, and successful recent fundraising that reduces dilution risk. Rivian shares gained $0.64 (4.04%) to close at $16.48 following the upgrade.
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