Piper Sandler upgraded Rivian (RIVN.O) to Overweight and raised its PT to $20 from $18, citing stronger EV demand, smooth progress on the R2 SUV rollout and a further improved balance sheet after recent financing. The firm expects Rivian’s software and services revenue to grow as vehicle volumes increase.

2026-07-27

Piper Sandler upgraded Rivian (RIVN.O) to Overweight and raised its PT to $20 from $18, citing stronger EV demand, smooth progress on the R2 SUV rollout and a further improved balance sheet after recent financing. The firm expects Rivian’s software and services revenue to grow as vehicle volumes increase.