Rivian Automotive (RIVN) stock has been gaining attention after the EV maker reported a stronger Q3. With momentum improving, top Tigress Financial analyst Ivan Feinseth is doubling down on the bullish case. He kept his Buy rating and raised his price target to a Street-high $25 from $21. The new price target indicates an upside potential of more than 65%.
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The analyst said Rivian is showing clearer signs of improvement, noting record deliveries in the latest quarter and 78% revenue growth year over year, which signals rising demand and better pricing power.
Feinseth is a five-star analyst on TipRanks, ranking #351 out of 10,123 analysts tracked. He has a 60% success rate and an impressive average return per rating of 13.10%.
What Is Driving the Bullish View?
Feinseth highlighted Rivian’s partnership network as a key strength. He said the $5.8 billion joint venture with Volkswagen (VWAGY) should help Rivian develop new platforms, improve software, and support future expansion. In addition, he noted Rivian’s deals with Amazon (AMZN) and AT&T (T) help build long-term demand in the commercial fleet market and add credibility to Rivian’s fleet strategy.
Beyond partnerships, Feinseth said Rivian’s manufacturing progress is becoming more visible. Production at the Illinois plant continues to rise, and work on the Georgia facility is moving forward. Once complete, these sites could support over 600,000 vehicles per year by 2030, supporting both premium and mid-price models.
Looking ahead, the R2 SUV is expected to drive broader adoption. Feinseth said the model should help Rivian enter the mid-price market and attract more mainstream buyers.
Finally, he pointed to Rivian’s work in software, AI, and driver-assist features as another long-term driver. He believes this could lead to better safety features and future paid upgrades, which may help margins improve over time.
Is RIVN Stock a Buy or Sell?
Turning to Wall Street, analysts have a Hold consensus rating on RIVN stock based on five Buys, eight Holds, and five Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average RIVN price target of $13.92 per share implies 7.88% downside potential.
