Baird Reiterates Neutral on Lucid, $6 PT

Baird analyst Ben Kallo reiterated a Neutral rating and $6.00 price target on Lucid Group Inc. (NASDAQ: LCID).

“Several leadership transition announcements highlight Q2 deliveries release. LCID announced Q2 deliveries which missed our/consensus estimates despite growing both sequentially and y/y.

More importantly, the company announced several leadership actions which are intended to streamline organizational structure, and we believe to be part of new CEO Silvio Napoli’s review of the business.

Among these actions is the departure of CFO Taoufiq Boussaid who will be replaced by Alexander De Bock following the Q2 EPS report.

LCID will report full Q2 results after the close on Tuesday, August 4.”

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