Rivian’s stock surged to a 52-week high after a Wall Street analyst raised the price target by nearly 80%, citing the upcoming R2 platform that could boost sales next year. The company recently showcased its in-house artificial intelligence chip, signaling progress towards fully autonomous vehicles. Another analyst raised the price target to $25 per share, anticipating a 42% gain.

Analysts are optimistic about Rivian’s future, with the upcoming launch of the more affordable R2 SUV driving demand and brand recognition in 2026. The company plans to introduce the R3 crossover SUV, further boosting demand. Rivian aims to deliver a vehicle with complete autonomy, offering catalysts for stock growth along the way.

Investors should note that Rivian wasn’t among the 10 best stocks recommended by the Motley Fool Stock Advisor team. The top 10 stocks identified by the team have the potential to generate significant returns in the coming years. Stock Advisor has a total average return of 951%, outperforming the S&P 500. Join the investing community for access to the latest top 10 list and expert insights.

Read more at Yahoo Finance: Why Did Rivian Stock Soar 15% Today?