Rivian Automotive, Inc. (RIVN) shares are soaring 5.12% in intraday trading on Monday, buoyed by a raised price target and positive analyst comments on the company's autonomous driving efforts.

D.A. Davidson has increased its price target for Rivian from $13 to $15, signaling growing confidence in the electric vehicle manufacturer's prospects. This upward revision comes as analysts Michael Shlisky and Linda Umwali highlight Rivian's focus on personal-automobile autonomy, which has been a key attraction for many of the company's customers.

According to the D.A. Davidson analysts, Rivian is concentrating on enhancing its vehicles with part-time autonomous capabilities for commutes and simple trips, rather than pursuing full-time autonomous vehicles or robotaxis. This strategy aligns well with Rivian's reputation for producing "fun-to-drive cars" and could be resonating with investors who see potential in this targeted approach to autonomy. The upcoming Rivian Autonomy Day event is expected to showcase these technologies, potentially further fueling investor enthusiasm.