CFRA Upgrades Lucid to Sell, $1 Price Target
- Rating
- Sell
- Upgraded
- Target
- $1
- Unchanged
- Outcome
- Missed
- within 12 months
What the analyst said
CFRA analyst Garrett Nelson upgraded Lucid Group Inc.
(NASDAQ: LCID) from Strong Sell to Sell with a price target of $1.00.
“We maintain a 12-month target of $1.
We raise our opinion one notch to Sell following LCID’s 10-trading-day streak of price declines dating back to February 19 (including its February 25 earnings release).
In our view, LCID remains nowhere close to even generating a gross profit, as its full-year 2024 gross loss totaled over $90,000/vehicle and its free cash flow was negative $2.9 billion.
While LCID’s full-year vehicle production guidance of 20,000 units implies a more than doubling from the 2024 total of 9,029 units, we see the company’s cash burn rate remaining troublesome.
Furthermore, we think a new CEO may want to take the time to review LCID’s road map and make strategic changes, but we think LCID’s current situation requires urgency in the face of daunting fundamental headwinds and the recent bankruptcies of various EV competitors.
While we remain bearish on the LCID story, the stock’s implied downside to our price target isn’t as material following its precipitous drop over the past couple of weeks.”
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Where the price stands
LCID trades at $2.98. The 5 analysts who set a target in the last 3 months range from $3 to $11, with a median of $6. This $1 target is 83% below the median, the lowest on the Street.
Since the note LCID has moved −86% (from $21). The 12-month window closed on March 5, 2026.
Track record
This call✗ Not reached within 12 months: a year after the note LCID closed at $11.60, 16% above the $10 target, but it moved the way the analyst expected. Prices are split-adjusted. Same target as this firm’s January 6, 2025 note, so it is scored there.
Firm track recordCFRA: 78% of its 9 targets at least a year old were reached within 12 months; on Lucid, 1 of 2. Accuracy ranking →
CFRA on Lucid
CFRA price targets on Lucid
3 calls from January 6, 2025 to October 8, 2025. The target stayed at $1. The rating stayed Sell.
- October 8, 2025Kept the $1 targetSell$1
- March 5, 2025 This noteKept the $1 targetSell$1
- January 6, 2025Earliest call shownSell$1
Targets are adjusted for the 1-for-10 reverse split on Sep 2, 2025, so every call is in the same share terms as this note.
