Rivian Automotive, Inc. (NASDAQ: RIVN) was upgraded to “Outperform” by Baird with a price target of $25, citing optimism around product momentum and the R2 launch in 2026. The firm sees the upcoming all-electric mid-size SUV, R2, as a boost for Rivian’s brand and stock.

Rivian plans to build the R2 at its Normal, Illinois facility, with an estimated price of $45,000. Baird believes a lower-priced product will expand Rivian’s customer base and drive higher deliveries. The recent Autonomy and AI day also received positive feedback from the firm.

Rivian Automotive, Inc. is known for creating electric vehicles, software, and services. While the company shows investment potential, Baird suggests other AI stocks may offer greater upside and less downside risk. For more information on undervalued AI stocks, check out their free report.

Baird views Rivian’s recent Autonomy and AI day positively, highlighting the unveiling of custom chips and a comprehensive overview of Rivian’s autonomous strategy. The firm is particularly interested in owning stock during the new product cycle leading up to the R2 launch in 2026.

Read more at Yahoo Finance: Rivian (RIVN) Back in Focus After Analyst Upgrade Tied to R2 Launch Plans