What the analyst said
Stifel analyst Stephen Gengaro reiterated a Hold rating and $3.00 price target on Lucid Group Inc.
(NASDAQ: LCID).
“• 2Q25 Deliveries Miss Forecast by 14%: Total deliveries of 3,309 vehicles missed our 3,852 forecast by 14.1% (below consensus of 3,848), jumped 6.4% on a sequential basis from 3,109, and improved 38.2% on a year-over-year basis from 2,394. • As highlighted in our note titled EVolving Thoughts: Highlighting Recent OEM Commentary, and TSLA, RIVN, and LCID’s Strong U.S.
Positioning, Lucid appears better positioned to weather tariffs than legacy OEMs (given its domestic manufacturing footprint), but is not immune to potential tariff headwinds. • We remain confident in the Gravity SUV’s strong demand and anticipate the restart of customer deliveries to fuel solid growth through yearend 2025.
We highlighted our thoughts on the Gravity in a note titled EVolving Thoughts: Lucid Gravity is a Very Impressive Vehicle. • Production Falls Behind Estimates: Lucid produced 3,863 vehicles during 2Q25, below our 4,440 projection (-13.0%), and rising 74.6% and 83.1% on a sequential and year-over-year basis, respectively.
The introduction of the Gravity SUV drove the increases from 1Q25 and 2Q24. • Management previously guided full-year 2025 production to 20,000 units, which we believe remains intact.”
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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 −82% (from $20.50). The 12-month window closed on July 3, 2026.
Track record
This call✓ Target reached on July 17, 2025, 2 months after the note. Prices are split-adjusted. Same target as this firm’s May 7, 2025 note, so it is scored there.
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, 2025 This noteKept the $3 targetHold$3
- May 12, 2025Kept the $3 targetHold$3
- May 7, 2025Kept 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