What the analyst said
Stifel analyst Stephen Gengaro reiterated a Hold rating and $3.00 price target on Lucid Group Inc.
(NASDAQ: LCID).
“Lucid delivered solid 1Q25 results with adjusted EBITDA of ($263.5) million essentially matching our forecast.
Cash burn improved materially during the quarter to ($589.5) million versus ($824.8) million in 4Q24 on flat revenues, fueled by solid execution and $31.5 million in regulatory credit sales (versus $29.1 million in full-year 2024).
1Q25 also benefited from a sequential decline in operating expenses, although management anticipates sequential increases through yearend driven in part by higher marketing spend.
The company reiterated its 2025 production guidance of 20,000 units, which we believe provides some insight into its expectations for deliveries, and currently expects limited tariff impacts.
Additionally, Lucid believes its current liquidity is sufficient to fund operations into 2H26, aligning with the anticipated launch of its high-volume mid-size platform in late 2026 (which remains on track).
We view Lucid’s 1Q25 print and commentary as slightly positive for the shares.”
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Where the price stands
LCID trades at $3.60. The 5 analysts who set a target in the last 3 months range from $3 to $11, with a median of $6. This $3 target is 50% below the median, the lowest on the Street.
Since the note LCID has moved −85% (from $23.30). The 12-month window closed on May 7, 2026.
Track record
This call✓ Target reached on July 17, 2025, 2 months after the note. Prices are split-adjusted.
Firm track recordStifel: 83% of its 42 targets at least a year old were reached within 12 months (#6 of 26 firms); on Lucid, 4 of 4. Accuracy ranking →
Stifel on Lucid
Stifel price targets on Lucid
8 calls from February 26, 2025 to September 8, 2025. The target went from $3 to $2.10 (−30%). The rating stayed Hold.
- September 8, 2025Kept the $2.10 targetHold$2.10
- August 29, 2025Target cut from $3 (−30%)Hold$2.10
- August 6, 2025Kept the $3 targetHold$3
- July 17, 2025Kept the $3 targetHold$3
- July 3, 2025Kept the $3 targetHold$3
- May 12, 2025Kept the $3 targetHold$3
- May 7, 2025 This noteKept the $3 targetHold$3
- February 26, 2025Earliest call shownHold$3
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.
Other analysts on Lucid
Morgan StanleySell
Cut price target −40%, kept ratingCut target · Oct 15
$3from $5−40%
RBC CapitalHold
Cut price target −43%, kept ratingCut target · Oct 12
$4from $7−43%
CantorHold
Kept rating and price targetReiterated · Oct 12
$8maintained
StoneXHold
Kept ratingReiterated · Oct 6
BairdHold
Kept rating and price targetReiterated · Oct 6
$6maintained