![]() After expecting to produce 20,000 cars this year, recent updates changed those estimates to 12-14 thousand. The company is facing serious production issues, though this issue mirrors most of the automotive industry right now. These price targets also consider the fact that Lucid’s car was named Motor Trend’s Car of the Year last November. However, a Citigroup analyst has a price target of $45, more than double current levels. One analyst at Morgan Stanley has a price target of $12, roughly 40% below current levels. Their Lucid stock forecasts ranged from being quite bearish, to quite bullish. #Lucid stock forecast how to#Price targets released by Wall Street analysts have a wide-range, showing the general uncertainty on how to approach Lucid. Stated simply, besides potential, there is not much which quantitatively supports Lucid. Given the lack of profitability, looking at any of the “Return on (x)” ratios would be pointless. Whereas last year’s revenue was under $28 million, net losses totaled just under $2.6 billion. Having just started delivering vehicles, revenue totals are quite small. Since debuting on the Nasdaq, Lucid has missed on both earnings reports, reporting a much larger loss than expected. Lucid expects that number to increase in 2023, up to $3.3 billion. #Lucid stock forecast free#Lucid stock forecast expects to have negative free cash flow of $2.8 billion in 2022. On that front, it shares remarkable similarity to Tesla, so it isn’t a strong hindrance. Fundamental AnalysisĪt this juncture, Lucid is not a profitable company, nor does it expect to be any time soon. Since then, the company has delivered several hundred more units to other reservation holders. Lucid delivered its first cars to a group of 20 reservation holders in October of 2021. Last year, several hundred Tesla engineers jumped ship from Tesla to Lucid, an extremely positive sign for the company. With the rebrand, Lucid announced its intent to create cars, and not just batteries and powertrains for other manufacturers. It was not until a rebrand in 2016 when Lucid adopted its current name and company vision. Though, back then it was known as Atieva, and did not produce any vehicles. Looking at fundamental and technical data, we’ll create an updated Lucid stock forecast.īefore getting into an updated Lucid stock forecast, it’s important to know the company’s background. Today we’ll be looking at one of the key players in the industry, Lucid Group (Nasdaq: LCID). With gas prices continuing to impact the average consumer’s wallet, industry interest will only increase. The EV space is as hot as it has ever been. ![]()
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