Rivian Stock Downgraded by Wedbush on Convertible Note Offering Concerns Despite Production Progress

Wedbush analyst Daniel Ives lowered Rivian's (RIVN) price target to $25 from $32 due to a recent convertible note offering.

Ives remains concerned about Rivian's messaging and execution despite production progress.

The analyst is still optimistic long-term but has lowered confidence in Rivian's story in the near term.

The new $25 price target indicates a 32.1% upside potential from current levels.

Analyst consensus on RIVN is a Moderate Buy based on 13 Buys and 7 Holds.