Rivian Automotive, Inc. (RIVN) saw its stock surge 5.15% during intraday trading on Thursday, driven by a bullish analyst upgrade and optimism surrounding its upcoming R2 vehicle launch.
Baird upgraded Rivian to Outperform from Neutral and raised its price target to $25 from $14, citing the expected launch of the mid-sized SUV, R2, in 2026. The firm believes the new product cycle will boost demand and the company's long-term competitiveness, especially with Rivian's advancements in autonomous driving and custom-designed microchips.
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