Rivian Shares Rise Following Q3 Revenue Beat and Increased Full-Year Guidance
Rivian Automotive (RIVN) saw its stock price climb 6.20% to close at $12.16 after reporting third-quarter revenue of $2.16 billion, significantly exceeding analyst expectations of $1.99 billion. The company's performance was bolstered by a 38% year-over-year increase in revenue and optimistic outlooks regarding its upcoming R2 SUV production. In response to the strong quarterly results, Rivian raised its full-year financial guidance and vehicle delivery estimates for 2026. This optimism is tied to the anticipated sales volume of the more moderately priced R2 platform. Following the report, Jefferies analyst Philippe Houchois upgraded the stock to a 'buy' rating with a $17 price target, citing accelerating production volumes as a key driver.
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