Why TD Cowen turned bullish on Rivian Automotive (RIVN) ahead of the R2 launch

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TD Cowen upgraded Rivian Automotive (RIVN) to Outperform from Market Perform, significantly boosting its price target. The upgrade is driven by anticipation of the company’s upcoming R2 product launch, expected to reveal more affordable and appealing options that could broaden its market reach and profitability.

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