diff --git a/Makefile b/Makefile
index 586a74b8132f4..6e830040538ad 100644
--- a/Makefile
+++ b/Makefile
@@ -95,7 +95,6 @@ TARBINS = $(addprefix teleport/,$(BINS))
 CHECK_CARGO := $(shell cargo --version 2>/dev/null)
 CHECK_RUST := $(shell rustc --version 2>/dev/null)
 
-RUST_VERSION ?= $(shell make --no-print-directory -C build.assets print-rust-version)
 RUST_TARGET_ARCH ?= $(CARGO_TARGET_$(OS)_$(ARCH))
 
 # Have cargo use sparse crates.io protocol:
@@ -1323,6 +1322,7 @@ docker-ui:
 # defined in build.assets/Makefile. It assumes that `rustup` is already
 # installed for managing the rust toolchain.
 .PHONY: rustup-install-target-toolchain
+rustup-install-target-toolchain: RUST_VERSION := $(shell $(MAKE) --no-print-directory -C build.assets print-rust-version)
 rustup-install-target-toolchain:
 	rustup override set $(RUST_VERSION)
 	rustup target add $(RUST_TARGET_ARCH)