BofA Securities Reiterates Underperform on Lucid, $1 Price Target
- Rating
- Sell
- Unchanged
- Target
- $1
- Unchanged
- Outcome
- Reached
- on January 20, 2026
What the analyst said
BofA Securities analyst John Murphy reiterated an Underperform rating and $1.00 price target on Lucid Group Inc.
(NASDAQ: LCID).
“Lucid’s (LCID) 1Q:25 adj. EPS of ($0.20) was better than BofA of ($0.24) and Bloomberg consensus of ($0.22). Reported revenue of $235mm was lower than BofA of $245mm and consensus of $249mm.
LCID previously announced 1Q:25 deliveries of 3,109, which were below our original expectations. Average revenue per unit was $72.4k, and below our estimate for $75.6k. Adj.
EBITDA of ($563mm) was better than BofA of ($641mm) and consensus of ($574mm) on lower operating expenses (among other items, SG&A included a reversal of $35mm from previously recognized stock-based comp).
LCID ended 1Q:25 with $3.6bn of cash & equivalents and short-term investments, down from $4.0bn at end of 4Q:24.
Note that in April, LCID completed a private offering of 5.00% convertible senior notes maturing in 2030 for an amount of $1.1bn.
Proceeds were used to repurchase $1.0bn of 1.25% convertible senior notes due in 2026.”
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Where the price stands
LCID trades at $3.79. The 5 analysts who set a target in the last 3 months range from $5 to $11, with a median of $7. This $1 target is 86% below the median, the lowest on the Street.
Since the note LCID has moved −84% (from $23.30). The 12-month window closed on May 7, 2026.
Track record
This call✓ Target reached on January 20, 2026, 8 months after the note. Prices are split-adjusted.
Firm track recordBank of America: 81% of its 21 targets at least a year old were reached within 12 months (#14 of 20 firms); on Lucid, 3 of 3. Accuracy ranking →
Bank of America on Lucid
Bank of America price targets on Lucid
5 calls from February 26, 2025 to March 4, 2026. The target stayed at $1. The rating stayed Sell.
- March 4, 2026Kept the $1 targetSell$1
- August 6, 2025Kept the $1 targetSell$1
- July 17, 2025Kept the $1 targetSell$1
- May 7, 2025 This noteKept the $1 targetSell$1
- February 26, 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.
