Rivian Shares Surge Following UBS Upgrade and Positive R2 Demand Outlook
Rivian Automotive (RIVN) shares rose 8.47% to close at $13.19 following an upgrade from UBS, which moved the stock from Neutral/Hold to Buy. Analysts cited a recent sell-off as a buying opportunity and expressed optimism regarding the upcoming R2 platform ramp-up, noting that early demand for the midsize SUV appears solid. The company's recent financial performance provides a strong fundamental backdrop, with third-quarter revenue increasing 38% year-over-year to $2.2 billion. Additionally, liquidity has been bolstered by a $1 billion term loan received by its Volkswagen joint venture in October. Investors are closely monitoring Rivian's ability to achieve positive automotive gross margins by the end of 2026.
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Topics: analyst rating electric vehicles stock upgrade trading volume
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Part of the story UBS Upgrades Rivian to Buy Following Stock Slump and R2 Demand (3 articles)