DA Davidson upgraded Rivian Automotive to Neutral from Underperform, maintaining a price target of $14. The upgrade reflects a valuation reset rather than fundamental improvement. Rivian's stock has decreased nearly 22% this year, despite a 14.38% increase over the past year. The pricing of early R2 trims has raised concerns, with some models priced 55% higher than expected. Rivian's ability to deliver 20,000 to 25,000 R2 units this year is uncertain, making execution critical for the stock's performance.
"DA Davidson's upgrade is driven purely by valuation reset rather than any fundamental improvement. Much of the recent pullback stems from a mixed investor reaction to the pricing of early R2 trims, which came in roughly 55% higher than expected for some consumers."
"Rivian designs and manufactures electric vehicles, including the R1T pickup, R1S SUV, and commercial delivery vans. The company achieved a meaningful milestone in 2025, posting its first full year of positive gross profit at $144 million."
"Rivian stock is down roughly 24% year to date, falling from $19.71 at the start of 2026 to $15.05 as of March 31. The stock dropped 7% in just the past week."
Read at 24/7 Wall St.
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