Rivian Automotive Inc's (NASDAQ: RIVN) recent capital raise led to near-term weakness but positioned the company for greater upside moving forward.
Here's why UBS believes it's time to buy.
UBS Moves To Buy: UBS analyst Joseph Spak upgraded Rivian from a Neutral rating to a Buy rating and lowered its price target from $26 to $24, citing an improved risk/reward opportunity.
With Rivian shares down about 20% since the company announced a $1.5 billion convertible debt offering, UBS sees greater opportunity for investors.
"With the raise out of the way, the market can refocus on improving fundamentals. We also see a reduced probability of an additional capital raise over the next ~1 year with ...