EV Stocks TSLA, NIO, RIVN See Price Targets Slashed

  • Electric vehicle (EV) stocks are slipping on price target cuts today.
  • Tesla (TSLA), Nio (NIO), and Rivian (RIVN) are included in this.
  • Mizuho analyst Vijay Rakesh is behind the cuts.
EV Stocks - EV Stocks TSLA, NIO, RIVN See Price Targets Slashed

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Electric vehicle (EV) stocks are in the news today after Mizuho analyst Vijay Rakesh weighed in on several companies in the space.

Rakesh believes that EV companies are going to continue facing troubles out of China. That’s due to ongoing lockdowns in Shanghai as a result of Covid-19 cases. The analyst believes this will result in supply chain issues that could affect EV deliveries.

Let’s go over how this had the Mizuho analyst changing their stance on a few EV stocks today!

EV Stocks on the Move

  • We start off with Tesla (NASDAQ:TSLA) as Rakesh cuts their price target for the EV company’s shares to $1,150 from $1,300 each. However, he reiterated his “buy” rating for the stock. TSLA is up close to 1% today despite this news.
  • Next up is Nio (NYSE:NIO) with its price target reduced to $48 from $55 per share. That’s despite the analyst continuing to maintain their “buy” rating for the company’s shares. NIO stock is down 3.5% as of Monday morning.
  • Finally, we have Rivian (NASDAQ:RIVN), which saw its price target slashed to $70 from $80 per share. And yet again, Rakesh continues to keep a “buy” rating for the company’s stock. Shares of RIVN are down 4% as of this writing.

Investors that are looking for more of the latest stock market news will want to stick around!

We’ve got all the most recent stock news that traders need to know about for Monday! A few examples include new details on the Spirit Airlines (NYSE:SAVE) acquisition, why Borqs Technologies (NASDAQ:BRQS) rocketed higher this morning, as well as what has Axsome Therapeutics (NASDAQ:AXSM) rising higher. You can find out all about these topics at the following links!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2022/06/ev-stocks-tsla-nio-rivn-see-price-targets-slashed/.

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