Electric vehicle (EV) maker Rivian Automotive (RIVN) delivered better-than-expected results for the third quarter of 2025, driving its stock higher by 23.4% on Wednesday. The company reported 78% growth in its Q3 revenue and a narrower-than-anticipated loss per share. Despite the encouraging results, Cantor Fitzgerald analyst Andres Sheppard reiterated a Hold rating on Rivian stock with a price target of $15, citing several headwinds, including the expiration of the $7,500 EV tax credit.
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Following yesterday’s spike, Rivian stock is up 16% year-to-date.
Cantor Remains Sidelined on RIVN Stock
Sheppard remains optimistic about Rivian’s commercial partnership with Amazon (AMZN) and its strategic joint venture with Volkswagen (VWAGY). The top-rated analyst also noted the company’s differentiated product portfolio, comprising the R1 SUV, EV charging network, EDVs (electric delivery vans), and the R2 SUV. Furthermore, he expects the upcoming launch of Rivian’s R2 line in 2026 to be a major catalyst, driving higher customer demand due to its more competitive price point.
That said, Sheppard is not pleased with Rivian’s near-term trajectory, given the company’s 2025 delivery outlook of 41,500 to 43,500 vehicles. He highlighted that this guidance is lower than Rivian’s 2024 deliveries. Sheppard also remains cautious about the initial R2 delivery ramp-up assumptions.
The analyst is sidelined on Rivian stock in the near term due to the expiration of the $7,500 EV tax credit and lower production and delivery expectations. He also noted macro challenges, tariff woes, and uncertainty related to Rivian’s autonomy and charging segments. While these segments have not yet been “quantified” by management, Sheppard expects initial details to be revealed at Rivian’s Autonomy & AI day on December 11.
Is Rivian Stock a Buy, Hold, or Sell?
Amid intense competition in the EV space and other challenges, Wall Street has a Hold consensus rating on Rivian Automotive stock based on 10 Holds, seven Buys, and five Sells. The average RIVN stock price target of $13.60 indicates 12% downside risk from current levels.
