"Rivian's Stock Surge Sparks Investor Debate: Is It Time to Ditch Tesla for RIVN?"
Cantor Fitzgerald analyst Andres Sheppard has downgraded Rivian shares from Overweight to Neutral ahead of the company's third-quarter earnings report. Sheppard cited increased valuation in shares and competition in the electric pickup truck market as reasons for the downgrade. However, he noted that Rivian's production and delivery figures for the second quarter exceeded estimates, and the company reaffirmed its belief that it is sufficiently funded through 2025. Sheppard also shared his positive outlook on the electric vehicle industry, reiterating Overweight calls on Lucid Group and Polestar Automotive.
