Piper Sandler recently raised its 12-month price target for Rivian stock from $18 to $20, implying a 26.26% increase from the current close. This upgrade follows the electric vehicle maker's progress in expanding production, launching the R2 SUV, and strengthening its balance sheet after a capital raise.
Despite a year-to-date decline of 18.39%, Rivian shares have gained nearly 15% over the past 12 months and remain 82.28% above their first closing price in 2021. However, the stock still trades about 81% below its peak after the IPO, reflecting ongoing challenges as the company works toward profitability.
Wall Street remains cautiously optimistic: out of 17 analyst ratings in the last three months, the consensus is a ‘Hold’ with 7 buys, 6 neutrals, and 4 sells. The average target price points to a more modest 13.27% gain to $17.94 in the coming year.
Rivian’s recent R2 launch and better balance sheet have sparked renewed investor interest amid a growing electric car market. This shift in sentiment contrasts with the stock’s earlier struggles, marking a notable turnaround since late 2024.
