Lucid Group stock price target raised to $26 from $20 by Cantor Fitzgerald

Investing.com - Cantor Fitzgerald has raised its price target on Lucid Group Inc. (NASDAQ:LCID) to $26.00 from $20.00 while maintaining a Neutral rating on the stock. According to InvestingPro data, the stock is currently trading near its Fair Value, with a market capitalization of $6.83 billion and significant volatility in recent trading sessions.

The adjustment follows investor meetings in New York City with Lucid’s interim CEO Marc Winterhoff and CFO Taoufiq Boussaid, where company executives reaffirmed their vehicle production guidance of 18,000-20,000 units for fiscal year 2025.

Cantor Fitzgerald currently estimates Lucid will produce 5,550 vehicles in Q3 2025, compared to the Visible Alpha consensus of 5,175, and deliver 4,745 vehicles against a consensus expectation of 4,286 units.

For the full fiscal year 2025, the investment firm continues to model 18,500 vehicles produced and 16,650 vehicles delivered, compared to Visible Alpha consensus estimates of 17,800 and 15,669 respectively.

During the meetings, Lucid management highlighted that its AMP-1 factory in Arizona has an annual production capacity of approximately 90,000 vehicles, and noted significant delivery visibility through contracts with Uber for approximately 20,000 vehicles and with the government of Saudi Arabia for up to 100,000 vehicles. The company maintains a healthy liquidity position with a current ratio of 2.58, though InvestingPro data indicates rapid cash burn remains a concern.

In other recent news, Lucid Group has completed a $300 million investment from Uber Technologies for their joint robotaxi development program. This investment, initially announced in July, aims to develop autonomous vehicles using Lucid’s electric vehicle technology, with production set at Lucid’s Arizona facility. Additionally, Lucid Group underwent a 1-for-10 reverse stock split on September 2, consolidating approximately 3.07 billion outstanding shares into about 307.3 million shares and reducing authorized common shares from 15 billion to 1.5 billion. Following this corporate action, Stifel adjusted its price target for Lucid Group to $21, maintaining a Hold rating, while Cantor Fitzgerald increased its price target to $20 and reiterated a Neutral rating. Meanwhile, Lucid Diagnostics saw a reaffirmation of its Buy rating and a $3.00 price target from Canaccord Genuity after a Medicare Administrative Contractors meeting regarding its EsoGuard test. These developments highlight ongoing strategic moves and analyst evaluations surrounding Lucid Group and Lucid Diagnostics.

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