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Rivian shares flat as Citigroup ties profitability to R2 SUV production ramp

Verifying
  • Citigroup initiated coverage of Rivian with a Neutral rating and an $18 price target.
  • 22,559 first-half deliveries preceded Rivian's 65,000-70,000 vehicle 2026 guidance.
  • Rivian's second production shift remains scheduled to begin by end-September.
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