It appears Lucid Motors (NASDAQ:LCID) bulls are continuing to up the ante on LCID stock. Capping off a busy couple of weeks, and ahead of a firsthand look at the company’s factory, analysts are marking higher and higher price targets for the stock. Is Lucid built to meet these lofty goals? Lucid Motors price predictions largely seem to think so.
Lucid’s been stirring its investors in recent weeks, with many seeming to think Lucid Air deliveries will be coming down the line imminently. Recently, Lucid bulls uncovered 10,000 VIN numbers registered by the company, likely to accommodate the delivery of Airs to those who pre-ordered the vehicles.
Beyond this revelation, the company is riling up bears with an Environmental Protection Agency (EPA) designated 520-mile range awarded to its Air Dream Edition Range model. The designation puts the longest-ranged Lucid vehicle at more than 100 miles longer than the next longest-ranged competitor. Of course, with no cars yet on the road, the company still lags behind, but the award is stoking the flames of competition across the industry.
And next week, the company will be continuing to gain momentum with an event. The company is inviting the media, politicians, financial experts and stockholders to its Arizona factory next week. Invitees will have a chance to see the company’s robust factory firsthand, witnessing the process of building an Air from assembly to testing. The even includes test rides in the Air.
Lucid Motors Price Predictions Heat Up With New $35 Price Target
CFRA Research is causing a ruckus today with its newest price target around LCID stock. The research corporation previously held a $25 price target for LCID. Now, with shares trading at just above $25, it seems the company is making a revision.
The company held a longstanding buy opinion on the stock, and it had targeted a $25 price in early September. Now that LCID is breaking through that barrier, the firm believes it is not going to let go of its momentum. The company is reiterating its buy opinion today, while also upping its price target to $35.
This is one of the highest price targets set for LCID stock thus far. But will it realistically see these new price highs? What are the bears thinking about LCID stock prices? Let’s take a look at some Lucid Motors price predictions and find out:
- Today marks the highest price target thus far, with CFRA pegging the stock for a $35 target.
- Just last week, Bank of America analyst John Murphy initiated a price target of $30 for the stock.
- Citigroup’s Itay Michaeli is targeting a $28 price point, which stands to be the next milestone for LCID.
- Morgan Stanley analyst Adam Jonas has been a longstanding LCID bear. His target for the stock remains at $12.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
