UBS Upgrades Rivian, Sees 40% Upside After Recent Slide

What happened: UBS upgraded Rivian Automotive Inc. ($RIVN) to Buy from Hold after a recent selloff, with analyst Joseph Spak setting a $17 price target. Key numbers: $17 price target. Shares fell roughly 19% in the previous month and more than 37% for the year. Management expects vehicle gross margin positive at the end of 2026. Around $13 billion in accessible and planned future capital. Why it matters: UBS called the retreat a buying opportunity ahead of an expected inflection in R2 output and gross margins, with potential upside from Software & Services and the planned Autonomy+ solution. Market: +9.3% today ($13.29), -31.5% YTD, 0.7x vol — as of 15:33 UTC

UBS upgraded Rivian Automotive Inc. ($RIVN) to Buy from Hold after a recent selloff, with analyst Joseph Spak setting a $17 price target.

UBS called the retreat a buying opportunity ahead of an expected inflection in R2 output and gross margins, with potential upside from Software & Services and the planned Autonomy+ solution. Market: +9.3% today ($13.29), -31.5% YTD, 0.7x vol — as of 15:33 UTC