Jefferies Upgrades Rivian to Buy as R2 Demand Outpaces Expectations
Jefferies raised Rivian to Buy from Hold, citing stronger R2 demand and margin progress, while keeping its $17 target. Shares rose about 6% on Friday.
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what happened
According to GuruFocus, Rivian Automotive shares climbed about 6% on Friday after Jefferies upgraded the electric-vehicle maker to Buy from Hold. The analysts argued that the recent selloff has created a more appealing entry point. The firm kept its $17 price target, while the stock was trading near $12.
Jefferies pointed to firmer interest in the new R2 SUV, especially the higher-end launch trims. Rivian delivered a record 19,248 vehicles in the third quarter and posted revenue of roughly $2.16 billion, ahead of forecasts. Adjusted loss per share narrowed to $0.48.
why it matters
For markets, the upgrade rests on operating figures rather than cheap valuation alone. Jefferies expects automotive gross margin to turn positive and adjusted EBITDA to reach breakeven in 2028. Investors will watch R2 conversion, production scale, cash burn and the December 9 Autonomy and AI event.
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sources
- Jefferies Makes Major Call on Rivian Stock — gurufocus.com, 30 October 2026 at 19:28 UTC
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