Stifel lowered the firm’s price target on Lucid Group (LCID) to $2.10 from $3 and keeps a Hold rating on the shares. The firm still views the Air and Gravity as “excellent products,” but expects additional capital to be required over the next few years and awaits clarity on Gravity sales and the rollout of the midsize vehicle, the analyst tells investors in a post-earnings note.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LCID:
- EU new car registrations up 7.4% in July
- Mixed options sentiment in Lucid Group with shares up 1.44%
- Lucid Group Approves Reverse Stock Split Amendment
- Canada to drop many U.S. tariffs, likely keep duties on autos, Bloomberg says
- Option traders moderately bearish in Lucid Group with shares down 0.96%