Wedbush raises PT for Rivian 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
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