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Rivian Automotive Inc (NASDAQ:RIVN) shares are trending upward on Monday as investors weigh an analyst upgrade against the public debut of the R2 mid-size SUV.
Analyst Upgrade Sparks Rebound
The recent momentum follows a rating change from TD Cowen. Analyst Itay Michaeli upgraded Rivian to Buy from Hold. He also raised the price forecast to $20 from $17. Michaeli cited a favorable risk-reward profile after a 20% year-to-date decline.
Michaeli’s analysis suggests a massive scale for the new platform. Full-scale U.S. demand for the R2 could reach 212,000 to 335,000 units, the analyst noted. This projection sits significantly above prior market consensus.
The “Tesla Killer” Strategy
CEO RJ Scaringe has labeled the R2 …
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