Baird Maintains an Outperform Rating on Rivian Automotive, Inc. (RIVN)

Group 1 - Rivian Automotive, Inc. (NASDAQ:RIVN) is recognized as a significant player in the electric vehicle (EV) and battery sector by Goldman Sachs [1] - Baird has reduced Rivian's price target from $25 to $23 while maintaining an Outperform rating, reflecting adjustments based on fourth-quarter results and consensus expectations [1] - TD Cowen analyst Itay Michaeli raised Rivian's price target from $13 to $17, citing favorable results and a positive outlook for 2026, alleviating concerns regarding EV demand and R1 cannibalization [2] Group 2 - Rivian reported a consolidated gross profit of $120 million for the fourth quarter and $144 million for the entire year of 2025, showing a year-over-year improvement exceeding $1.3 billion [2] - The company anticipates R2 vehicle deliveries in the second quarter of 2026, with CEO RJ Scaringe emphasizing 2025 as a year focused on performance and operational scaling [2] - Rivian operates in automotive, software, and services categories, focusing on designing and manufacturing electric vehicles and accessories [3]