Rivian Climbs 4% as UBS Upgrade Bets on R2 Ramp; Lucid and Tesla Edge Higher

Stock Market Today, Nov. 2: Rivian Rallies on UBS Upgrade and Solid R2 Demand Outlook

Today, Nov. 2, 2026, the EV maker surged after UBS called the selloff overdone, citing solid early R2 demand and a path to positive automotive gross margin.

Rivian Climbs 4% as UBS Upgrade Bets on R2 Ramp; Lucid and Tesla Edge Higher

A UBS upgrade is sending Rivian shares sharply higher, but the bull case rests almost entirely on one unproven model hitting a margin milestone that could make or break the company's path to profitability.

UBS sees a buying opportunity in Rivian after recent sell-off

The bank upgraded the electric vehicle stock to buy from neutral.

UBS Upgrades Rivian to Buy With $17 Price Target After Share Drop

The bank expects automotive gross margins to turn positive by year-end as R2 production grows. Its target is 40% above Friday’s close.