This Analyst Sees Extra Than 50% Upside In Lucid After This fall Deliveries

Citi analyst Itay Michaeli resumed protection of Lucid Group, Inc (NASDAQ: LCID) with a Purchase score and a $12 value goal.
Citi’s newest mannequin & valuation framework included Lucid’s reported Q3 outcomes, This fall deliveries, This fall capital increase, current macro pressures & trade EV value actions, decrease peer comps, and an intensifying aggressive setting.
Regardless of current and ongoing headwinds, Lucid’s latest Q4 production update & steadiness sheet actions inspired the analyst.
Additionally Learn: Tesla Rival Lucid Offers $7,500 Discount On Its Air Sedan: Here’s How To Qualify
The analyst continues to love the corporate’s know-how & product positioning within the EV race.
Citi’s key focus areas now embody the continued manufacturing ramp of the Air, upcoming reservations, demand updates, the corporate’s go-forward pricing technique, 2023 gross margin outlook, and Gravity launch milestones.
With manufacturing execution bettering, near-term liquidity addressed, and expectations have come down, the analyst favored the chance and reward right here however anticipated continued near-term volatility amid ongoing macro and aggressive developments.
Value Motion: LCID shares traded larger by 9.97% at $8.60 on the final test Monday.

Date	Agency	Motion	To
Mar 2022	Morgan Stanley	Maintains	Underweight
Jan 2022	Redburn Companions	Initiates Protection On	Impartial
Dec 2021	Guggenheim	Initiates Protection On	Impartial

This text initially appeared on Benzinga.com