12/22/2023 0 Comments Lucid motors stock priceThe long-term forecast for LCID stock looks positive looking at the pivot towards electric cars. ![]() Meanwhile, Morgan Stanley, which is among the biggest Tesla bull, is bearish on Lucid Motors stock. Given the similarities between Tesla and Lucid Motors, many analysts see the company as the “next-Tesla.” LCID itself has been comparing itself to Tesla and Rawlinson sees the EV industry as a two-horse race between itself and Tesla. Last month Bank of America analyst John Murphy initiated coverage of Lucid Motors with a buy rating, and termed the company “the Tesla/Ferrari of new EV automakers.” He added, “Our Buy rating on Lucid Group is predicated on our view that the company is one of the most legitimate among the universe of start-up electric vehicle (EV) automakers and also a relative competitive threat to the universe of incumbent automakers.” After the recent spike, the stock even trades 15% above the street high target price. The stock has a median target price of $28 which is a 21% discount over current prices. Three of them rate the stock as a buy or some equivalent while one has a sell rating. While Tesla has invested in its own network of Superchargers, Lucid Motors has tied up with Electrify America for the charging network.įour analysts are currently covering LCID stock. One notable exception is the approach towards the charging networks. Lucid Motors, which is led by a former Tesla engineer Peter Rawlinson, has managed to build its reputation as the “next Tesla.”įrom building its own cars to choosing a premium car as the first model, there are several similarities between the two companies. Both the companies saw the exits of their top management after the allegations. Incidentally, both Nikola and Lordstown were accused of fraud by Hindenburg Research. The stocks have been under pressure as markets are apprehensive about their production plans.Ħ8% of all retail investor accounts lose money when trading CFDs with this provider. In the startup EV (electric vehicle) ecosystem, several companies including Lordstown Motors and Nikola have faltered on execution. However, it goes to show the emphasis that markets have placed on execution. Meanwhile, it might appear surprising that Lucid Motors stock surged almost a third after announcing that it would make deliveries as planned. However, the company backed out of Model S Plaid+ which would have had a higher range. ![]() Earlier this year, Tesla begin the deliveries of the Model S Plaid. Lucid Air would compete with Tesla Model S. ![]() The Dream model would have an EPA range of 520 miles which is higher than what Tesla offers. The entry-level model would start at $77,400. The Dream model is a premium version of the sedan and would be priced at $169,200. Yesterday, Lucid Motors confirmed that the deliveries of its Lucid Air Dream would begin as scheduled and the first deliveries would be made on Saturday. What’s the forecast for LCID stock as it begins deliveries? Lucid Motors recent developments However, the pre-merger euphoria died down after the company officially announced the deal. Lucid Motors’ merger with Churchill Capital IV (CCIV) was arguably the most hyped SPAC merger of 2021. While the stock is still way below the pre-merger highs, it has risen sharply since the merger. ![]() Lucid Motors (LCID) stock rose 31% yesterday and was trading higher in premarkets today also. The content on this page is for information purposes only. Please note that we are not authorised to provide any investment advice.
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