Shares of Rivian Automotive Inc. shot toward a nearly five-month high Wednesday, after the electric-vehicle maker’s entry into Europe through Amazon.com Inc. prompted the most bearish analyst to back away from a sell recommendation.
Analyst Michael Shlisky raised his rating on Rivian’s stock RIVN to neutral from underperform and boosted his stock-price target to $18 from $11. His previous price target was the lowest of the 24 analysts surveyed by FactSet who cover Rivian.
Shlisky…
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