Rivian Downgraded at Piper Sandler 
<p><a href='https://financialmodelingprep.com/financial-summary/RIVN'>Rivian Automotive (NASDAQ:RIVN)</a> was downgraded by Piper Sandler to Neutral from Overweight, with a price target cut to $15.00 from $63.00, due to concerns over the company's costly strategy. </p>
<p>The firm believes that while Rivian's vertical integration strategy for after-sales revenue is sound, it requires a significant investment of over $4 billion to fund growth beyond 2025. Until funding is secured, the analysts predict the company will trade at book value. Despite this, analysts see a permanent shift in the auto industry towards electrification and automation, favoring cost-efficient manufacturers like Tesla and potentially Rivian.</p>
<p>According to the analysts, manufacturers that are both vertically integrated and cost-efficient, such as Tesla and possibly Rivian, will thrive while traditional mass-market brands suffer. In addition, these companies may also compete in the smaller, high-end segments that are typically dominated by luxury brands but have lower sales volumes.</p>

NASDAQ:RIVN