Stifel Raises Rivian’s Price Target to $20

Stifel analyst Stephen Gengaro raised on February 17, 2026, the price target on Rivian to $20 (from $17) while maintaining a ‘Buy’ rating on the stock.

“We believe RIVN’s 4Q25 print and outlook are positive and underscore company’s strong progress on several fronts.

This includes improving margins, very positive pre-production reviews on the all-important R2, and higher-than-anticipated 2026 delivery guidance of 62,000 – 67,000 units versus our 52,000 pre-release forecast driven by a strong 2H ramp in R2.

We believe the keys to the RIVN story over the next 12 months includes:

• R2 sales,
• data points that support expectations for Auto margins to rise as R2 ramps, and
• the continued growth in the high-margin Software & Services segment.

We are reiterating our Buy and bumping our target price to $20 from $17.”

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