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Skip NavigationMarketsBusinessInvestingTechPolitics & PolicyVideoWatchlistInvesting ClubPROLivestreamMenuRivian’ s latest financials showed promise, giving investors a buying opportunity after the electric vehicle maker’s recent correction, according to Jefferies. On the back of a positive third quarter, Jefferies upgraded Rivian to buy from hold Friday and left its price target at $17 on the stock, implying 48% upside from Thursday’s close of $11.45. Rivian advanced more than 5% early Friday to more than $12. The move follows a 32% decline over the past three months, which Jefferies said “creates a new entry point” to buy the stock. Rivian posted third-quarter results late Thursday, losing 48 cents per share, better than Wall Street analysts’ consensus estimate of a 64-cent loss, on revenue of $2.16 billion, ahead of the $2.0 billion estimate, according to FactSet data. Rivian showed progress in “automotive gross margins turning positive,” Jefferies analyst Philippe Houchois said in his recommendation. Rivian’s gross profit totaled $176 million while total gross profit margin widened to 8%. Jefferies sees Rivian benefiting from a bottoming in U.S. EV demand, and called out the strong performance of the R2 mid-size SUV, with management expecting higher-than-expected order conversions for the high end trim. R2 was Rivian’s best-selling vehicle by volume in the third quarter, and Rivian increased its full-year delivery outlook to 67,000 to 70,000 vehicles from 65,000 to 70,000. RIVN YTD mountain Rivian Automotive is down 42% in 2026 through Thursday What’s more, the commercial launch in 2027 of Point-to-Point autonomy, an advanced driver assistance feature, positions Rivian “at the forefront of autonomous driving,” Jefferies said. The company also has opportunities to license autonomous vehicle technology. Jefferies highlighted upcoming milestones, such as Volkswagen’s ID.1 launch featuring Rivian software, as validating “large scale software-defined vehicle applications” and creating “opportunities for additional software licensing deals.”Read More