** EV maker Rivian Automotive's RIVN.O shares fall ~7.1% to $12.06 in morning trade

** Brokerage Guggenheim cuts PT to $16.00 from $18.00, now a ~23.4% upside to stock's last close; BofA cuts PT to $10.00 from $13.00, now a ~22.9% downside to stock's last close

** RIVN's FY25 deliveries and expected adjusted EBITDA loss forecast worse than estimates – Guggenheim

** Co's forecast assumes fewer people to buy RIVN vehicles due to changes in government incentives, specifically, a leasing credit might be taken away – Guggenheim

** Growing competition among slowing demand for EVs, with the possibility of the Trump administration pulling back incentives on EVs a downside risk – BofA

** Given the Trump administration's focus on cost-cutting, there could be risk to RIVN's $6.6 bln loan from the Department of Energy – BofA

** Twelve of 30 brokerages rate the stock "buy" or higher, 14 "hold" and 4 "sell" or lower; their median PT is $14.10 - data compiled by LSEG

** Including session's gains, RIVN is down ~9.4% YTD after shedding ~37.2% in 2024

(Reporting by Rishi Kant in Bengaluru)

((Rishi.Kant@thomsonreuters.com))