Rivian (NASDAQ: RIVN) shares are back in focus after Wall Street turned more bullish on the electric vehicle maker, pointing to a potential rebound driven by new models and long-term technology investments.
Baird upgraded Rivian Automotive to Outperform from Neutral and raised its price target to $25 from $14, signaling a more optimistic outlook for the next 12 months. The upgrade on December 18 comes as Rivian’s stock has already shown renewed momentum in recent weeks.
At the time of publication, Rivian shares were trading around $18.41 in premarket, up roughly 4.4%, after closing the previous session at $17.63, according to market data.
In its note, Baird said 2026 is shaping up as a pivotal year for Rivian, driven primarily by the launch of the R2 platform. The firm expects the lower-priced R2 vehicle to reignite brand momentum, boost demand, and materially improve delivery volumes as Rivian moves beyond its initial premium lineup.
Baird also highlighted Rivian’s recent progress in vehicle autonomy as an underappreciated positive. According to the firm, Rivian’s development of custom autonomy chips strengthens its long-term competitiveness and could differentiate the company as software and hardware integration becomes increasingly important in the EV space.
The analysis was led by Baird analyst George Gianarikas, who noted that while near-term execution risks remain, Rivian’s strategic positioning looks more compelling as the company approaches its next product cycle.
With a $25 price target, Baird’s forecast implies meaningful upside from current levels, reflecting growing confidence that Rivian can stabilize operations and transition into its next phase of growth.
