Rightmove ($RMV) stock closed down 4.6% today and is now down approximately 9% from its recent peak on 12-Dec. JPMorgan downgraded the stock, citing rising requirements for permanent best-in-class tech and consumer experience, prompting higher R&D and opex spend, and downside risk to profitability. Meanwhile, Deutsche Bank downgraded Rivian ($RIVN) to Hold, cutting its price target to $19, citing EV demand deceleration and downside risk to 2024 volume and margin outlooks. This led to a 3.5% pre-market decline in Rivian's shares. Despite an improved 2023 production cadence, Deutsche Bank sees downside risk to Street's 2024 deliveries estimates for Rivian, leading to the downgrade from Buy to Hold. The stock is expected to bounce in the $15s.
$RIVN should get a bounce in the $15s https://t.co/beuTmcjpg9
$RIVN Deutsche Bank downgrades Rivian to hold from buy Deutsche said it sees “downside risk” for the EV company. “Despite the improved 2023 exit rate production cadence, we see downside risk to Street’s 2024 deliveries estimates, in the context of large downtime planned by Rivian…
Deutsche Bank downgrades Rivian to hold $RIVN https://t.co/96t8i70hrv
DEUTSCHE: ".. Amid EV demand deceleration .. we see downside to 2024 volume and margin outlooks. We downgrade $RIVN to Hold and cut our price target to $19."
$RIVN (-3.5% pre) Deutsche Bank downgrades Rivian (RIVN) as shares sink https://t.co/WJaOGG1Vnk
Rightmove $RMV closed down 4.6% today Now down ~9% from recent peak on 12-Dec No news today except a JPMorgan downgrade: "Requirements for permanent best-in-class tech and consumer experience are rising, prompting higher R&D and opex spend"; "downside risk to profitability" https://t.co/WdLAZu39ov