Shares of EV maker Rivian $RIVN ( ▲ 10.7% ) surged again Friday, rising nearly 9% and touching their highest level since December 2023. The stock is now on track for its second straight double digit gain as analyst upgrades continue to pile in.
Analysts bet big on the R2 moment
Wedbush analyst Dan Ives raised his price target on Rivian by 56% to $25, calling 2026 a “prove-me” year for the company as it prepares to launch its lower-cost R2 model in the first half of the year. Baird echoed the optimism a day earlier, also lifting its target to $25.
Momentum builds after AI Day
The rally kicked off after Rivian’s recent AI Day, where the company outlined autonomous driving updates and teased a future robotaxi strategy. If gains hold, this would mark Rivian’s third double digit jump in the past six trading days, signaling a sharp shift in sentiment after a long stretch of skepticism.