Stifel Reaffirms Lucid’s $17 Price Target
Stifel analyst Stephen Gengaro reiterated on February 25, 2026, a ‘Hold’ rating and $17 price target on Lucid Motors.
“We view Lucid’s 4Q25 results as modestly negative for the shares.
Revenue of $522.7 million landed 7.9% above our estimate (+13.8% versus the consensus), driven primarily by higher vehicle deliveries coupled with increased ASPs.
Gross profit (loss) of ($421.9) million and adjusted EBITDA of ($874.7) million both trailed our ($290.6) million and ($460.1) million forecasts, respectively, due to continued tariff impacts and higher operating expenses.
We believe the recent ~12% U.S. workforce reduction and the $500 million in cost savings over the next three years should aid margins and profitability.
FCF in the quarter of ($1,242) million trailed our ($851.4) million estimate and landed below the ($941.4) million consensus.
Additionally, the company delivered the first set of vehicles to Uber and plans for an official launch in San Francisco in late2026, and we await additional details regarding autonomy and its robotaxi initiatives during its investor day on 03/12/2026.”
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