Lucid (NASDAQ:LCID) stock is a hot topic on Thursday after Stifel analysts showed favor to Rivian (NASDAQ:RIVN) instead of LCID stock.
Stifel initiated coverage of both electric vehicle (EV) stocks today and did so with a “hold” rating for LCID shares. That’s not sitting well with investors, considering the “buy” rating Stifel placed on RIVN stock.
To go along with that, LCID stock got a $5 price target. That’s a potential 13.6% increase over its prior close. For comparison, RIVN got a $23 price target from Stifel, representing potential growth of 25% for the shares.
What’s Holding Back LCID Stock?
Stifel has several concerns about Lucid that it wants to see addressed. That includes brand awareness, production problems and concerns about the firm possibly needing to raise more money in 2025.
On the flip side of that, Rivian was praised for its deal with Amazon (NASDAQ:AMZN) for 100,000 delivery EVs. The firm also has high hopes for its R2 platform and expects better margins from the company due to new technology.
Investors will note that shares of LCID stock are up 3.5% despite the tepid rating from Stifel. RIVN stock is seeing a 2.3% gain alongside the new analyst coverage.
There’s plenty more stock market news that traders will want to read about below!
We have all of the latest happenings worth checking out on Thursday! A few examples include what’s happening with shares of Nikola (NASDAQ:NKLA), Fisker (NYSE:FSR) and Cyngn (NASDAQ:CYN) stock. You can catch up on these matters at the following links!
More Stock Market News for Thursday
- NKLA Stock: Nikola Plunges 20% on Share Offering News
- CEO Henrik Fisker Addresses FSR Stock Declines
- Why Is Cyngn (CYN) Stock Up 73% Today?
On the date of publication, William White did not hold (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.
