Rivian (RIVN) shares rose about 5.6% on Friday after the EV maker reported third-quarter revenue up 38% to $2.16 billion and an adjusted loss narrowing to $0.48 per share, with positive comments on the R2 SUV. Jefferies upgraded the stock to 'Buy' from 'Hold' and kept a $17 price target, implying roughly 45% upside from current levels. Analyst Philippe Houchois expects the R2 to benefit as U.S. EV demand begins to stabilize and sees a 'relatively unique position and product void' in the $45,000–$55,000 range, though Ford's UEV-based EV may not ramp significantly until late 2027. Rivian raised its 2026 delivery forecast to 67,000–70,000 vehicles, and its adjusted EBITDA loss outlook of $1.75 billion to $1.85 billion improved by $100 million at the midpoint. The stock has fallen roughly 30% over three months and more than 37% this year.
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