Electric vehicle (EV) maker Rivian (RIVN) announced better-than-expected first-quarter results. However, RIVN stock fell 6% on Wednesday, as the company lowered its full-year delivery outlook, citing macro uncertainty due to tariffs and trade policies, which could impact consumer sentiment and demand. Analysts gave mixed reviews, with some reiterating their Buy rating on RIVN stock, citing the EV maker’s long-term growth potential, while others preferred to remain on the sidelines due to near-term uncertainty.
Analysts Have Mixed Views on Rivian Stock
Following the Q1 results, Stifel analyst Stephen Gengaro reiterated a Buy rating on Rivian stock with a price target of $16. The analyst contends that while RIVN’s Q1 2025 print and outlook were a mixed bag, he believes the underlying story is intact. Among the positives, the analyst noted another quarter of substantial reduction in cost of goods sold per unit, positive gross profit for the second consecutive quarter, and a reaffirmed adjusted EBITDA outlook against a tough backdrop.
However, the analyst also highlighted negatives like the reduced 2025 deliveries guidance and the higher capex forecast due to the expected impact from tariffs. Overall, Gengaro views the print and outlook as “about neutral for the shares near-term, and supportive of our positive longer-term view for RIVN.”
Meanwhile, TD Cowen analyst Itay Michaeli increased his price target for Rivian Automotive stock to $14 from $12.70, while reaffirming a Hold rating. Michaeli stated that the company delivered an “encouraging” Q1 beat, driven by gross margin upside. However, he noted that the 2025 guidance was mixed, with deliveries revised lower, but the EBITDA outlook remained unchanged despite tariffs and lower volume. Michaeli contends that Rivian’s outlook seems conservative. He continues to be fundamentally constructive on RIVN stock but seeks clearer near-term catalysts.
Similarly, UBS analyst Joseph Spak increased the price target for RIVN stock to $13 from $12 and maintained a Hold rating. The analyst pointed out “a few encouraging elements,” including positive gross profit and the company hitting a milestone that allows it to secure $1 billion in equity investment from Volkswagen before June 2025, alleviating capital concerns. Also, the cost of goods sold per unit reached the lowest level yet. However, Spak noted that these positives were offset by a lowered delivery outlook for 2025. While R2 SUV launch remains on schedule, the analyst thinks that “there is a bit of an air pocket for the stock until an AI day in the fall and getting closer to R2 launch in 1H26.”
Is Rivian Stock a Buy or Sell?
Overall, Wall Street is sidelined on Rivian Automotive stock, with a Hold consensus rating based on seven Buys, 14 Holds, and four Sell recommendations. The average RIVN stock price target of $13.88 implies 9.1% upside potential from current levels.
