Cantor Fitzgerald Reiterates ‘Neutral’ Rating on Rivian

Cantor Fitzgerald analyst Andres Sheppard reiterated on October 6, 2025, a $15 price target on Rivian, with a ‘Neutral’ rating on the stock.

“On 10/2, RIVN pre-announced that it delivered 13,201 vehicles in 3Q25, above Visible Alpha Consensus of 12,690 vehicles, (and above 10,018 in 3Q24).

Additionally, RIVN also produced 10,720 vehicles in 3Q25, significantly above Visible Alpha consensus of 8,059, (thouh below 13,157 in 3Q24).

However, RIVN narrowed its FY25 delivery guidance to 41,500 – 43,500 vehicles (from prior guidance of 40,000 – 46,000), which resulted in the share underperforming on the day.

Recall that in FY24, Rivian delivered 51,579 vehicles and produced 49,476.

Rivian also previously guided FY25 Capex of $1,800M-$1,900M and FY25 Adj. EBITDA of $(2,000M)-$(2,250M).”

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