BUZZ-Wedbush raises PT for Rivian Automotive to $25 on R2 SUV prospects

Reuters12-19
BUZZ-Wedbush raises PT for <a href="https://laohu8.com/S/RIVN">Rivian</a> Automotive to $25 on R2 SUV prospects

** Brokerage Wedbush raises PT for EV-maker Rivian Automotive RIVN.O to $25 from $16, implying an upside of 23.3% to stock's last close of $20.28

** Wedbush expects launch of R2 SUV in 1H26 to drive demand and deliveries; says this product is expected to fill a gap of affordable SUVs in EV landscape

** Wedbush notes co's plans to develop an in-house AI chip to replace Nvidia's NVDA.O GPUs in future vehicles that are specifically designed for vision-centric physical AI to power its third-gen autonomous platform

** Brokerage says RIVN's software business, which is nearing a $500 mln per quarter revenue run rate, provides incremental upside to its gross margin as its a much higher-margin business

** Management has focused incrementally on improving cost of good sold impact and margin profile over the past few quarters by lowering costs across various parts of the business, Wedbush says

** RIVN shares marginally down premarket

** Up to last close, RIVN had gained 52.5% YTD

(Reporting by Arnav Mishra in Bengaluru)

((Arnav.Mishra@thomsonreuters.com;))

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