Analyst revamps Tesla, Rivian, Nio price targets on electric vehicle demand
Mar 25, 2024
Mizuho Financial Group looked at the current EV market and decided to downgrade Tesla, Rivian (RIVN) , and Chinese automaker Nio (NIO) to neutral from buy, citing slowing demand and increasing inventory.
Analyst Vijay Rakesh said he remains constructive on the broader electrical vehicle landscape with the long-term trends to electrification, but he believes that near-term EV demand and tightening liquidity are creating challenges into 2025.
EV inventories were up 92% year-over-year in 2023 and are accelerating, he said.
Rakesh, who slashed his price target on Rivian to $12 from $24, said that he still sees the company well-positioned in the strong SUV/Pickup markets 
Rakesh cut the price target on Tesla from $270 to $195, telling investors that while Tesla remains a global leader with scale/profitability "bar none," moderating growth, China competition, and higher inventory are challenges.
https://www.thestreet.com/electric-v...vehicle-demand
Only thing dumber than a EV pick up are EV heavy equipnment.
