Cantor Maintains Neutral Rating on Rivian
Cantor Fitzgerald reiterated a Neutral rating on Rivian (RIVN) on June 29, 2026, in a mobility industry update from analyst Andres Sheppard previewing Rivian’s Q2 production and delivery pre-announcement expected this week.
“Rivian (RIVN, N) recently (6/9) launched its R2 vehicle, with an initial price of $57,990 (prior to a lower-cost $44,990 version expected in 2027).
We continue to expect R2 deliveries to boost customer demand (driven by the more competitive price point and the recently unveiled autonomy features), and we view Rivian’s AI and customer-focused autonomous approach as a way for the company to: materially improve the unit economics and likely capture meaningful autonomy and EV market share in North America (over several years).
For Q2, we expect deliveries of 10,234 (in-line with Visible Alpha consensus of 10,518), and we also estimate 11,900 vehicles produced, (vs. Visible Alpha consensus of 11,132).
In FY25, Rivian delivered/produced 42,247/42,284, respectively, and for FY26, management is targeting vehicle deliveries of 62,000-67,000 (includes EDV deliveries).
Rivian’s near-term potential catalysts include: Initial R2 Customer Deliveries (2Q26E); Uber’s initial $300M Investment (2Q26E); RAP1 Chip Deployment (2H26E); Autonomy+ Eyes Off Launch (2H26E); and Georgia Facility Start of Construction (2026E).”
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