Rivian Gains New Street-High Target as Analyst Sees 65% Upside

Rivian (RIVN, Financials) received a fresh vote of confidence on Monday after Tigress Financial's Ivan Feinseth raised his price target on the electric-vehicle maker to $25, the highest among major Wall Street firms. He reaffirmed his Buy rating, pointing to improving fundamentals after Rivian's stronger third quarter.

Feinseth said Rivian's record deliveries and 78% year-over-year revenue growth show rising demand and improved pricing power. He also highlighted the company's partnership network, including its $5.8 billion joint venture with Volkswagen aimed at developing new platforms and software. Rivian's commercial relationships with Amazon and AT&T were cited as long-term demand drivers that reinforce the company's fleet strategy.

The analyst pointed to visible progress in manufacturing as production continues to expand in Illinois and development advances on the Georgia site. When both facilities are complete, Rivian expects they could support capacity of more than 600,000 vehicles annually by 2030 across premium and mid-price models.

Feinseth said Rivian's investments in software, AI and driver-assist features could improve safety and open the door to future upgrade revenue. He views the upcoming R2 SUV as a key catalyst for broader adoption as Rivian moves further into the mid-price market.