The company expects to see a 47% to 59% increase in deliveries from 2025
Rivian Automotive Inc (NASDAQ:RIVN) stock is up 26% to trade at $17.64, after the electric vehicle manufacturer reported strong fourth-quarter results and issued an upbeat 2026 delivery forecast. The company expects deliveries to range from 62,000 to 67,000 units this year, which would be a 47% to 59% increase from 2025.
In response, Deutsche Bank upgraded RIVN to "buy" from "hold," and hiked its price target to $23 from $16. The equity also attracted bull notes from three other analysts. Coming into today, 17 of the 19 firms in coverage called shares a "hold" or worse, indicating there is still room for additional upgrades. Plus, short interest could start to unwind, as it accounts for 17.9% the stock's available float.
RIVN is pacing for its largest single-day percentage gain day ever, and earlier surged to its highest level since mid-January. The security is also on track to conquer the 20-day moving average and is eyeing its best week since December, while sporting an over 38% six-month lead.
Options volume is running at five times the intraday average amount, with 231,000 calls and 107,000 puts exchanged so far. The most active contract is the weekly 2/13 18-strike call, where new positions are being opened.