Cantor Fitzgerald Keeps Neutral on Lucid, $8 PT
Cantor Fitzgerald analyst Andres Sheppard reiterated a Neutral rating and $8.00 price target on Lucid Group Inc.
(NASDAQ: LCID).
“LCID recently reaffirmed that its AMP-2 Manufacturing facility in Saudi Arabia remains on track after it completed its construction phase and entered its “industrialization phase,” and the company is targeting initial production in “early 2027.” We view this as the most material catalyst for this year, ahead of production of the company’s upcoming Midsize platform, which management also reaffirmed that it remains on track and is targeting material production ramp-up in 2H27.
We continue to expect Midsize to materially accelerate the company’s path towards profitability.
We expect the company to pre-announce Q3 P/D next week, and for Q3, Visible alpha consensus is expecting total deliveries of 6,367 (vs. our more conservative expectation of 4,107 vehicles.
Lastly, recall that in a recent interview with Bloomberg, CEO Silvio Napoli disclosed that the restructuring work with Alix Partners has now ended, and we now expect management to focus on improving execution and strengthening operations.”
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