Rivian Automotive is trading at $12.97, up 5.80%, after UBS upgraded its rating to Buy from Neutral on November 2, maintaining a $17 price target. - UBS cited the R2 ramp, early demand, and expected improvement in automotive gross margins. - After its October 29 Q3 report, Rivian raised 2026 delivery guidance to 67,000–70,000 vehicles, and R2 became its best-selling model by volume. - Broader market gains may add support, but reporting identifies the UBS upgrade as the primary catalyst.