Cantor Fitzgerald Maintains Neutral on Lucid, $3 Price Target

Cantor Fitzgerald analyst Andres Sheppard reiterated a Neutral rating and $3.00 price target on Lucid Group Inc.

(NASDAQ: LCID).

“LCID recently pre-announced that it delivered 3,309 vehicles in 2Q25, below our estimate/Visible Alpha consensus of 3,791/3,611 vehicles (and above 2,394 in 2Q24).

Additionally, LCID also pre-announced that it produced 3,863 vehicles in 2Q25, below our estimate/Visible Alpha consensus of 4,000/4,305 vehicles (and above 2,110 in 2Q24).

LCID’s FY25 vehicle production guidance is currently unchanged at 20,000, but this could be revised this year, in our view.

Recall that in FY24, Lucid delivered 10,241 vehicles and produced 9,029 vehicles. LCID’s FY25 capex guidance of ~$1.4B is unchanged. Lucid Breaks Record for Most Miles Travelled on a Single Charge.

On 7/8, a Lucid Grand Touring broke the Guinness world record for miles driven on a single charge, going from St. Moritz, Switzerland, to Munich, Germany, a total of 749 miles or ~1,205km.

We continue to believe that Lucid benefits from a strong partnership with the PIF, and we also continue to believe that Lucid vehicles are able to provide higher battery efficiency, longer battery range, better performance, and faster charging (relative to other EVs).

However, we remain neutral due to persistent high negative gross margin, additional capital needs, a new management team that remains unproven, worsening macro conditions, and tariff uncertainty.”

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.