Electric Up-And Comer Lucid's Stock 'Still In Park': Analysts Expect Investors To Keep 'Conservative Posture' On Tesla Rival
Portfolio Pulse from Chris Katje
Lucid Group Inc (NASDAQ:LCID) reported Q1 financial results with revenue beating and EPS missing estimates. Analysts from Stifel and Needham maintain a 'Hold' rating on LCID, citing mixed results and reiterated production targets. Despite challenges, Lucid's focus on aligning production with demand and controlling costs is noted, with the upcoming launch of the Lucid Gravity SUV being a critical event. The company's technology and backing by the Saudi Arabian Public Investment Fund are seen as strengths, but current low delivery numbers and high capital needs are concerns.
May 07, 2024 | 7:13 pm
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Lucid Group Inc reported mixed Q1 results with a revenue beat and an EPS miss. Analysts maintain a 'Hold' rating, highlighting the company's focus on production alignment and cost control, with the Lucid Gravity SUV launch as a key upcoming event.
The mixed Q1 results and reiterated production targets suggest a cautious optimism around Lucid's future performance. The 'Hold' ratings from analysts indicate a neutral short-term outlook, with the potential for future growth hinging on successful product launches and cost management. The backing by the Saudi Arabian Public Investment Fund provides a safety net, but the current financial challenges and the need for additional capital could limit short-term stock price appreciation.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100