UBS Raises Rivian Price Target to $13
- Rating
- Hold
- Price target
- $13
- from $12
- Implied downside
- -4%
- vs $13.50 prior close
UBS analyst Joseph Spak raised the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $13 (from $12) while maintaining a Neutral rating.
“1Q25 showed a few encouraging elements. 1) RIVN was GP positive and hit a milestone that allowed them to secure $1bn in the form of an equity investment from VW before June 2025.
This helps further alleviate capital concerns on the name. 2) COGS/unit hit the lowest level yet and improved ~$3.3k q/q which would have been lower on a constant mix basis (1Q25 had less vans).
However, this is balanced by a lowered delivery outlook for the year given EV sentiment and likely some reduced promotions to try to offset the incremental tariff cost (few thousand/vehicle) in 2H25.
Stock ultimately hinges on R2 and while launch remains on schedule, there is a bit of an air pocket for the stock until an AI day in the fall and getting closer to R2 launch in 1H26.
Our PT goes to $13 on slightly revised forecasts.”
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Tracking this call
Since this note+6% RIVN $13.50 → $14.33 (Oct 9) · moving away from the target
This call✓ Target reached on May 7, 2025, 0 days after the note.
Firm track recordUBS: 72% of its 18 targets at least a year old were reached within 12 months (#14 of 20 firms); on Rivian, 5 of 5. Accuracy ranking →
