Rivian (RIVN) Price Target Cut to $12 on EV Demand Concerns

Rivian Automotive, Inc. (NASDAQ:RIVN) is one of the AI Stocks Investors Are Watching Closely. On August 12, Morgan Stanley analyst Adam Jonas lowered the price target on the stock to $12.00 (from $13.00) while maintaining an Equal Weight rating.

The price target cut comes amid concerns about the upcoming R2 vehicle launch amidst challenging demand conditions for electric vehicles. Significant capital is also required to compete in autonomous robotization.

“We believe Rivian can play a role in AI-enabled autonomy, but remain cautious on the ‘steering-wheel-having’ R2 into a tough demand backdrop for EVs and capital requirements to participate in the robotization of autos. The VW relationship reduces stock volatility but potentially the opportunity.”

Rivian (RIVN) Price Target Cut to $12 on EV Demand Concerns

A luxury electric vehicle driving in the city, its battery technology powering its progress.

Rivian Automotive, Inc. (NASDAQ:RIVN) is an automaker that creates and manufactures electric vehicles, as well as software and services.

While we acknowledge the risk and potential of RIVN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RIVN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.