Wall Street calls: Piper upgrades Rivian, Mobileye; JPMorgan starts Rhythm Pharmaceuticals at overweight

According to CNBC, Piper Sandler upgraded Rivian and Mobileye to overweight from neutral, saying both stocks are compelling. Piper cited Rivian's de-risked balance sheet, a smooth R2 ramp and an improved demand outlook, while saying Mobileye is nearing floor valuation and gaining control of its own destiny. The firm also initiated Williams-Sonoma at overweight with a $253 price target, and JPMorgan started Rhythm Pharmaceuticals at overweight with a Dec. 27 price target of $145. Other calls included Citizens' initiation of Sonida Senior Living at market outperform, Roth's initiation of Aduro Clean Technologies at buy, and UBS's upgrade of Cameco to buy from neutral after a recent pullback.