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Rivian gains after raising annual delivery forecast

By Reuters News

** Shares of EV maker Rivian RIVN.O rise 5.1% to $12 premarket

** Lifts midpoint of FY26 vehicle deliveries target to 67,000 units - 70,000 units, up from prior forecast of 65,000 units - 70,000 units

** CEO RJ Scaringe says he is “very confident” the EV maker will hit an autonomy milestone this year that unlocks a $250 million tranche of Uber’s UBER.N investment

** RIVN reports its R2 model as its top-selling vehicle in Q3, helping lift deliveries to a record

** Posts Q3 revenue of $2.16 bln, beating analysts' estimates of $1.99 bln, according to data compiled by LSEG

** 16 of 28 brokerages rate the stock "buy" or higher, seven "hold" and five "sell" or lower; median PT is $18 - LSEG data

** As of last close, stock down 41.9% YTD

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