Rivian Automotive, Inc. shares surged 5.05% during Monday's intraday trading session, driven by a bullish analyst upgrade from Piper Sandler.
The investment firm raised its rating on the electric vehicle maker to Overweight from Neutral and lifted its price target to $20 from $18, signaling increased confidence in the company's outlook.
The upgrade sparked strong buying momentum, with the stock already climbing over 3% in premarket trading before extending its gains after the opening bell.
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