Wall Street sets Lucid stock price target for the next 12 months
The post Wall Street sets Lucid stock price target for the next 12 months appeared on BitcoinEthereumNews.com.
Despite the massive backing from the Saudi Public Investment Fund (PIF), numerous partnerships aimed at revitalizing the business, and the high hopes for the Gravity model, Lucid Motors’ (NASDAQ: LCID) stock performance can, at best, be described as lackluster. Specifically, having significantly underperformed the promises made during its initial public offering (IPO), the electric vehicle (EV) maker struggled through 2024, ending the year 27.23% in the red at $3.02. The start of 2025 did not prove much better and the shares are just barely in the green since January 2 – the first trading day of the year – having recorded a 0.17% rise to their press time price of $3.03. LCID stock YTD price target. Source: Finbold Wall Street remains uncertain about Lucid stock Still, it appears that between the strong backing from one of the wealthiest entities on the planet and a disappointing business performance, Wall Street experts have opted to, on average, remain neutral about LCID stock. The embattled EV maker boasts a single ‘buy,’ two ‘sell,’ and as many as 6 ‘hold’ ratings on the stock analysis platform TipRanks, per the data retrieved on January 14. The average 12-month price target for the company is similarly tepid as it stands at $2.91 – 4.28% below the press time price. LCID stock analyst consensus. Source: TipRank Furthermore, the street high forecasts – and the only incumbent ‘buy’ rating – which was assigned by R. F. Lafferty on November 11, does not predict stellar gainst for LCID shares as it estimates a 32% rise to $4 over 52 weeks. 2025 brings fresh downgrades for LCID shares The Street low, however, is significantly more dire than even the consensus data shows as, on January 6, CFRA’s Garrett Nelson lowered his rating of Lucid stock from ‘sell’ to ‘strong sell’…
Filed under: News - @ January 14, 2025 5:21 pm