Lucid's Price Target Reduced
Key points:
- RBC reduces Lucid Group's price target to $3
- Lucid struggles with demand amid EV price war
RBC has recently reduced the price target for Lucid Group from $6 to $3. This decision was influenced by the company's 'lower probabilities of higher licensing penetration levels.'
Lucid Group's struggle to attract sufficient demand due to an electric vehicle (EV) price war and limited visibility was noted. The company's technological advantage was also highlighted.
The suggestion was made that Lucid Group could benefit from partnering with additional automotive manufacturers. This could potentially help to cut costs and increase its chances of success.