Needham analyst Chris Pierce has reiterated their neutral stance on LCID stock, giving a Hold rating on November 4.
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Chris Pierce has given his Hold rating due to a combination of factors impacting Lucid Group. The company has shown visible momentum in brand recognition and delivery, which is promising. However, this progress has not yet translated into significant financial improvements that would justify a more optimistic rating.
Despite encouraging trends in delivery and demand, especially after the end of the $7,500 EV tax credit, there are still concerns about the company’s balance sheet. While there is support from sponsors providing a funding runway, the path to achieving sustainable positive financials remains unclear. Additionally, while the company’s ambitious plans for level 4 autonomy vehicles are noteworthy, it is uncertain how much weight investors should place on these prospects at this stage.
In another report released on November 4, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $16.00 price target.