New York, Feb 14, 2026, 14:02 EST — Market closed.
- Rivian shares surged on Friday after the EV maker paired a quarterly beat with a brighter 2026 delivery outlook.
- Analysts lifted ratings and targets, but kept the spotlight on execution and cash burn.
- Next catalyst: Rivian has flagged March 12 for more details on the R2 lineup.
Rivian Automotive shares closed Friday up 26.6% at $17.73 after the electric-vehicle maker topped some fourth-quarter expectations and pointed to a sharp pickup in deliveries this year as its lower-priced R2 SUV approaches launch. Trading volume hit about 126.7 million shares, more than triple its three-month average, after a volatile week for growth stocks. (Nasdaq)
The move put fresh attention on Rivian’s shift toward cheaper models at a time when U.S. EV demand has been jolted by the expiry of a $7,500 federal tax break and other policy changes, forcing automakers to lean harder on price and product timing. Rivian plans to roll out the R2 in the second quarter starting at nearly $45,000, close to Tesla’s Model Y, and Piper Sandler analysts said “nothing matters more than a timely launch” for the R2. “Rivian has had its fair share of problems… yet its fourth quarter results would suggest the business is finding its groove,” said Dan Coatsworth, head of markets at AJ Bell. (Reuters)
In an SEC filing, Rivian reported fourth-quarter revenue of $1.286 billion and consolidated gross profit of $120 million, while net loss was $804 million. The company forecast 2026 deliveries of 62,000 to 67,000 vehicles, with adjusted EBITDA — earnings before interest, taxes, depreciation and amortization, excluding some items — seen at a loss of $1.8 billion to $2.1 billion, and capital spending of $1.95 billion to $2.05 billion. Chief executive RJ Scaringe said the company “focused on execution” in 2025 and said it was “incredibly exciting” to see early reviews of the R2 ahead of expected customer deliveries next quarter. (SEC)
Rivian’s shareholder letter stressed that the R2 is designed to cut manufacturing complexity and cost, and that the launch variant will be a Dual-Motor AWD model capable of 0–60 mph in 3.6 seconds with over 300 miles of range. The company also said Amazon has more than 30,000 Rivian electric delivery vans on the road in the U.S. (SEC)
On the Street, Deutsche Bank analyst Edison Yu upgraded Rivian to “Buy” from “Hold” and raised his price target to $23 from $16, saying he sees “early signs” the company’s prospects “are inflecting” and that the 2026 outlook “appears de-risked” ahead of an R2 launch “on track for 2Q.” UBS analyst Joseph Spak moved to “Neutral” from “Sell” and set a $16 target, warning that guidance carries “upside and risk” and that cash burn and the R2 ramp could keep sentiment swinging. (Investing)
Still, the story is not clean. Rivian’s own outlook implies another year of heavy losses and big spending, and any slip in the R2 schedule or a fresh bout of EV price cuts would test the rally fast.
The next tape-read comes quickly: U.S. stock markets are closed Monday for Presidents Day and reopen Tuesday, setting up the first real test of whether Friday’s jump holds. (Nasdaq)
Beyond the open, investors are watching for follow-on analyst moves, any details on how Rivian plans to manage costs as volumes rise, and whether demand shows up for a cheaper SUV in a choppy EV market.
Rivian has said it will give additional R2 product and line-up details on March 12 — the next hard date traders have circled.
