Rivian Stock Tumbles on Bank of America Downgrade | Global News Avenue

Rivian (rnvnShares fell 8% on Monday after Bank of America analysts lowered their EV maker shares.

Analysts lowered Rivian stock from “neutral” to “underperforming” and lowered its target from $13 to $10. They point out the “general soft” demand environment for electric vehicles and explain the key points Trump administration Staying away from electric vehicles could hurt Rivian’s business.

“Given the Trump administration’s focus on cutting costs, we think Levin’s $6.6 ($1 billion) could be risky given that it is focused on cost reductions. Energy Loan Department Closed by Biden administration Yes (January 16),” the analyst wrote.

Bank of America analysts are now the only “sell” or equivalent ratings tracked by Visible Alpha, as well as four “buy” and 10 “hold” ratings.

BOFA says if policy changes are made, “more downside risk” forecasts

Analysts say Rivian’s Forecast for 2025 “Softrending than expected,” “If policy changes are formulated, there may be more downside risks.” Rivian’s joint venture With the German auto giant public Over the next four years, EV startup forecasts are also “complex”, they wrote.

Additionally, analysts say the number of electric SUVs and crossover competitors has increased, including new models entering the market in the next two years (Lucid) (LCID), scout, GM (General) Chevrolet and Ford (f), which may also complicate Rivian’s sales pictures.

Despite Monday’s decline, Rivian’s shares have risen nearly 20% over the past 12 months.