BUZZ - Rivian shares rise after raising annual delivery forecast

October 30 - ** Shares of electric vehicle manufacturer Rivian (RIVN.O) rose 5.1% in premarket trading, to $12

** Raised the midpoint of its fiscal 2026 vehicle delivery target (link) to 67,000 to 70,000 units, above the previous forecast of 65,000 to 70,000 units

** CEO RJ Scaringe said he is “very confident (link)” the electric vehicle maker will achieve an autonomous driving milestone this year, unlocking a $250 million payment from Uber UBER.N investment

** RIVN reported that its R2 model was the best-selling model in the third quarter, helping deliveries hit a record high

** According to data compiled by London Stock Exchange Group (LSEG), the company’s third-quarter revenue was $2.16 billion, exceeding analysts’ estimates of $1.99 billion

** Out of 28 brokerages, 16 gave the stock a “buy” or higher rating, 7 rated it “hold”, and 5 rated it “sell” or lower; the median target price is $18 — LSEG data

** As of the previous close, the stock is down 41.9% so far this year

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