Movement Alert｜Rivian Automotive, Inc. Pre-Market Rise 5.02%, UBS Upgrades Stock to Buy With $17 Price Target

Market Focus11-02 22:28

On November 2, Rivian Automotive, Inc. rose 5.02% in Pre-Market Trading, trading at $12.73 per share, with turnover of $14.61 million.

The immediate catalyst was a rating upgrade from UBS, which raised Rivian Automotive, Inc. to Buy from Neutral and set a $17 price target.

The upgrade followed the company’s recent third-quarter report, in which revenue rose to about $2.16 billion versus expectations near $2.0 billion, adjusted loss per share narrowed to $0.48 from a larger loss a year earlier and ahead of consensus, and full-year delivery guidance was raised to 67,000 to 70,000 vehicles. Recent coverage also highlighted R2 demand, improving gross margin trajectory, and autonomy-related milestones as part of the improving operating backdrop.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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