RBC Capital Raises Rivian Price Target to $14
- Rating
- Hold
- Price target
- $14
- from $10
- Implied downside
- -11%
- vs $15.81 prior close
RBC Capital analyst Tom Narayan raised the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $14 (from $10) while maintaining a Sector Perform rating.
“Our PT goes to $14 from $10, reflecting a revised revenue outlook and a re-rated EV/Sales multiple of 1.5x (up from 1.0x).
The company lowered its 2025 delivery guidance to 40-46K vehicles (down 10%), reducing revenue estimates but increasing projected gross profit to $301M (from $205M), supported by regulatory credits.
CAPEX guidance was raised to $1.8-1.9B to advance the R2 platform for a 2026 launch, requiring a one-month plant shutdown in late 2025.
Tariffs could increase costs by a few thousand dollars per unit in 2025, prompting efforts to secure U.S.-manufactured cells by 2027.
Rivian’s liquidity stood at $8.5B in Q1/25, with additional funding commitments including $3.5B from VW, $1B contingent on positive gross profit in late 2024, and a $6.6B DOE loan.
Concerns persist about gross profit sustainability beyond regulatory credits, potential DOE loan delays, and the impact of IRA removal on price-sensitive R2/R3 products.”
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Tracking this call
Since this note−9% RIVN $15.81 → $14.33 (Oct 9) · 82% of the way to the target
This call✓ Target reached on Jun 5, 2025, 17 days after the note.
Firm track recordRBC Capital: 86% of its 7 targets at least a year old were reached within 12 months (#7 of 20 firms); on Rivian, 1 of 2. Accuracy ranking →
