Rivian Automotive, Inc. (NASDAQ:RIVN) is one of the AI Stocks on the Market’s Radar. On December 18, Baird upgraded the stock to “Outperform” and also raised the price target to $25 from $18. The upgrade reflects the firm’s growing optimism around product momentum and technological progress ahead of the R2 launch in 2026.
“We are upgrading RIVN to Outperform as we move into 2026 which is the year of the R2 launch.”
The firm anticipates the launch of the R2, an upcoming all-electric mid-size SUV by Rivian, to act as a “boost” for the company’s brand, product demand, and overall stock. The firm anticipates this boost as deliveries begin near mid-year.
A fleet of autonomous vehicles driving down a sun-drenched highway.
The company intends on building the R2 at its Normal, Illinois facility, with pricing estimated near $45000. According to the firm, a lower-priced product would enable Rivian to broaden its customer base and support higher deliveries over time.
Baird also pointed to Rivian’s recent Autonomy and AI day, which it views positively for the stock.
“The recent Autonomy and AI day was highlighted by the unveiling of custom chips and a more thorough overview of RIVN’s autonomous strategy, which we view positively for long-term competitiveness. We want to own into the new product cycle of launching the R2.”
Rivian Automotive, Inc. (NASDAQ:RIVN) is an automaker that creates and manufactures electric vehicles, as well as software and services.
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