** Brokerage Jefferies downgrades EV maker Rivian RIVN.O to "hold" from "buy", PT unchanged at $16
** Jefferies says Rivian's Q1 results were better than expected, partly due to a new accounting treatment for previously received funds from a joint venture with VW VOWG.DE
** Brokerage sees upside to RIVN's brand and software capabilities, but is waiting for updates on the company's R2 program and potential partnerships with other companies
** Jefferies revises FY revenue estimates for RIVN due to rising capital expenditure, weak demand outlook for this year and lower production of units
** As of last close, RIVN stock up 11.8% YTD
(Reporting by Padmanabhan Ananthan)
((Padmanabhan.Ananthan@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.