Stifel Lowers Rivian Price Target to $16
- Rating
- Buy
- Price target
- $16
- from $18
- Implied upside
- +33%
- vs $12.07 prior close
Stifel analyst Stephen Gengaro lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $16 (from $18) while maintaining a Buy rating.
“Rivian faces near-term headwinds from tariffs, the pending cessation of $7,500 EV tax credits, and production line downtime as it prepares to launch the R2.
2Q positives include: 1) Strong Software & Service profitability; 2) Reiterated 2025 deliveries guidance; and 3) Noted R2 costs likely about half R1.
Negatives include: 1) COGS per unit up $22,000 sequentially driven by lower production volumes; 2) 2025 adjusted EBITDA guidance of ($2.0) – ($2.25) billion from prior expectations of ($1.9) – ($1.7) billion; 3) Full-year regulatory credits sales guided down to $160 million from $300 million previously; and 4) Fullyear gross profit to be roughly break-even compared to a modest positive previously.
We believe the long-term story is intact, reiterate our Buy rating and lower our target price to $16 from $18 based on our DCF.”
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Tracking this call
Since this note+19% RIVN $12.07 → $14.33 (Oct 9) · 58% of the way to the target
This call✓ Target reached on Nov 10, 2025, 3 months after the note.
Firm track recordStifel: 94% of its 16 targets at least a year old were reached within 12 months (#3 of 20 firms); on Rivian, 4 of 4. Accuracy ranking →
