Lucid Group

LCID · NASDAQ

$3.27+$0.175 (+5.65%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $3.10

LCID analyst rating

HoldConsensus of 8 analysts over the last 12 months. 13% rate it a buy.

Strong buy0
Buy1
Hold6
Underperform1
Sell0

12-month price target · 13 analysts

Average $8.44 (+158.0% upside)

Low: $3.54
Now: $3.27
High: $17.85

Upgrades and downgrades

The latest rating actions, newest first

LCID analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Morgan Stanley	Oct 15, 2026	Maintains	Underweight	$5.00 → $3.00	67%
RBC Capital	Oct 12, 2026	Maintains	Sector Perform	$7.00 → $4.00	56%
Citigroup	Aug 19, 2026	Maintains	Buy	$14.00 → $11.00	57%
RBC Capital	Jul 13, 2026	Maintains	Sector Perform	$8.00 → $7.00	56%
Citigroup	May 15, 2026	Maintains	Buy	$17.00 → $14.00	57%
TD Cowen	May 6, 2026	Maintains	Hold	$10.00 → $7.00	42%
Benchmark	May 6, 2026	Downgrade	Buy → Hold	—	35%
Cantor Fitzgerald	May 4, 2026	Maintains	Neutral	$14.00	59%
TD Cowen	Apr 15, 2026	Maintains	Hold	$19.00 → $10.00	42%
Baird	Apr 15, 2026	Maintains	Neutral	$14.00 → $12.00	53%

The case for and against

Updated Oct 16, 2026

Bull case

Lucid Group is well positioned for a constructive outlook because management reaffirmed FY26 vehicle production guidance of 25,000-27,000 units, up from FY25 production of 17,840 vehicles, while also guiding FY26 capex of $1.2B-$1.4B to support scale. Demand signals appear stronger, with orders more than doubling from February to March, and potential tailwinds from the discontinuation of the Model S/X, rising oil prices, and possible EU tariffs could further support Gravity and Air demand. Its longer-term case is reinforced by the Uber robotaxi partnership expanding to at least 35,000 Lucid vehicles, the on-track late-2026 midsize platform, and targets for positive gross margins, positive FCF, and high-teens billions in revenue.

Bear case

Lucid Group is viewed negatively because 1Q26 exposed a sharp disconnect between its long-term product story and weak near-term execution, with revenue of $282M versus $440M expected and deliveries of 3,093 units despite production of 5,500 vehicles. The stop-sale tied to a supplier-related seat issue, negative gross margin of -110%, and the suspension of 2026 guidance materially reduce visibility and suggest that Gravity ramp and broader demand recovery remain uncertain. Although liquidity of about $3.2B, or $4.7B pro forma, supports operations into 2H27, continued negative free cash flow, likely future capital raises, and dilution risk keep the fundamental outlook pressured.

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