On July 6, Rivian Automotive rose 5.21% in regular trading, trading at $19.62/share with turnover of $172 million, extending last week's strong rally.

The continued upside momentum is driven by better-than-expected Q2 delivery results and a subsequent target price upgrade from JPMorgan, which raised its price target from $9 to $15. Rivian reported Q2 deliveries of 12,194 vehicles, well above the Wall Street consensus estimate of approximately 10,600 units and its own guidance range of 9,000 to 11,000. The company simultaneously raised its full-year delivery outlook to 65,000-70,000 vehicles from a prior range of 62,000-67,000.

Growth was fueled by its electric delivery vans, the flagship R1 series, and early contributions from the newly launched R2 mid-size SUV, which starts at approximately $58,000 and is widely viewed as critical to achieving scale profitability. The R2 is positioned to compete directly with the Tesla Model Y for the mass market. Rivian is scheduled to report full Q2 financial results on July 30.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)