After racing more than 12% higher last week, Rivian Automotive (RIVN 6.51%) stock is continuing to climb higher this week. In addition to an upwardly revised price target, speculation that Rivian could expand its partnership with Volkswagen is also powering investors' enthusiasm.
According to data provided by S&P Global Market Intelligence, shares of Rivian are up 10.5% from the end of trading last Friday through 12:15 p.m. ET today.
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Investors spotted two green lights this week
Taking a more bullish tack, D.A. Davidson hiked its price target (though it maintained a neutral rating) on Rivian stock to $15 from $13. With shares trading above $15 at the time that the rating became public, the price target implied some downside. Investors, however, likely responded favorably to the new price target since Goldman Sachs had reduced its price target to $13 from $15 last week in response to the company's third-quarter 2025 financial results.
NASDAQ: RIVN
Key Data Points
The other encouraging sign came in the form of a Reuters article that reported Volkswagen believes its partnership with Rivian could transcend the joint venture that the two companies entered into last year. Volkswagen believes the technology the two companies are developing could also be used in its internal combustion engine vehicles. Speaking to the merits of the technology under development, Carsten Helbing, co-CEO of the joint venture said, "The architecture is highly capable of also driving additional drivetrain configurations."
Is it too late to hitch a ride with Rivian after the stock's rise?
Despite the stock's recent climb, investors interested in electric vehicle (EV) exposure would be well advised to kick the tires further on Rivian stock. There's fear in the market regarding the future of the EV market with the expiration of EV tax credits but it's hardly the end of the road right now for Rivian.
