Rivian stock jumps 10%, here's why

Rivian Automotive (RIVN) stock gained on Monday after UBS upgraded the electric-vehicle maker to Buy from Hold, citing improving demand prospects for its R2 models and the potential for higher automotive gross margins. UBS analyst Joseph Spak maintained his $17 price target, pointing to valuation and the potential for an improvement in Rivian's business as production of its lower-priced R2 vehicles increases.