Cantor Reiterates Neutral on Lucid

Cantor Fitzgerald reiterated a Neutral rating on Lucid (LCID) on June 29, 2026, in a mobility industry update from analyst Andres Sheppard previewing Lucid’s Q2 production and delivery pre-announcement expected this week.

“Lucid (LCID, N) recently announced that Silvio Napoli (who recently served as Chairman and CEO of Schindler Group) became the company’s new CEO.

Since then, on 6/22, LCID announced an ~18% reduction in its workforce, and that COO and prior Interim CEO Marc Winterhoff has stepped down.

LCID previously was guiding FY26 vehicle production of 25,000-27,000 vehicles and FY26 Capex of $1.2B-$1.4B, though we expect management to provide updated guidance in Q2.

For Q2, we expect deliveries of 5,170 (above Visible Alpha consensus of 4,618) and production of <5,000 vehicles.

We expect several potential material catalysts over the next twelve months, including: launch of robotaxi via Uber/Nuro (4Q26E), hands-free highway and city driving autonomy (2H26E), the completion of AMP-2 facility in Saudi Arabia (4Q26E-1H27E), Midsize launch (end of 2026E/Early 2027), and launch of DreamDrive Pro autonomy subscription (1H27).”

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