Why Morgan Stanley Won't Call Rivian a Buy Despite Upgrade Morgan Stanley's decision not to call Rivian a buy despite upgrading its price target to $14 from $13 is telling.
The firm maintains an underweight rating, citing concerns over execution risk and the company's unprofitable car business.
The recent earnings report from Rivian has left investors puzzled, with a stock price drop despite beating nearly every number Wall Street was watching. Revenue jumped 27% year over year to $1.