Overview
- Wedbush raised its price target to $25 from $16 with an Outperform rating, and Baird upgraded Rivian to Buy with a $25 target, citing the coming R2 platform and autonomy roadmap.
- Shares climbed about 15% to $20.28, reaching a 52-week peak and the highest level in nearly two years.
- Rivian began shipping a major update that expands Universal Hands-Free assisted driving to more than 3.5 million miles of marked roads in the U.S. and Canada for second‑generation vehicles.
- The software push follows Rivian’s Autonomy & AI Day, where the company revealed development of an in‑house AI chip.
- Caution persists despite the rally, with 2026 sales projections trimmed to roughly 66,000 vehicles, an average analyst target near $16, and only about 30% of analysts rating the stock Buy.