Morgan Stanley lowered the firm’s price target on Lucid Group (LCID) to $5 from $10 and keeps an Underweight rating on the shares. Q1 results were hindered by a supplier quality issue, resulting in a 29-day stop-sale, and the company is suspending guidance until its incoming CEO has sufficient time to review the outlook, notes the analyst, who expects the stock to remain under pressure until that update.
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