Rivian Stock Upgrade: Analyst Doubles Price Target Amid EV Market Shift
Baird analyst Ben Kallo has upgraded Rivian Automotive (RIVN) to Buy from Hold, more than doubling his price target to $25 from $14. The bullish outlook hinges on Rivian's strategic pivot to mass-market EVs with its upcoming R2 platform, set to launch in mid-2026.
The R2 SUV's $45,000 price point marks a deliberate shift from Rivian's current luxury positioning. While Wall Street remains cautious—only 30% of analysts rate RIVN as Buy—the stock trades at just 4x sales versus Tesla's 17x multiple. Federal EV tax credit removals have pressured near-term estimates, but 2026 now emerges as a pivotal inflection year.