Shares of EV maker Lucid Group (NASDAQ:LCID) are ticking upwards today after the stock scored a Buy rating from Citigroup analyst Itay Michaeli.
The analyst has initiated coverage on the stock with a $28 price target that indicates a massive 60.73% potential upside.
Michaeli noted Lucid’s EV technology credentials and added the company’s mix of range, performance, charging metrics and pricing are “best-in-class.”
Moreover, Lucid has also scored a Buy rating from R.F. Lafferty’s Jaime Perez this week.
What Is LCID Target price?
Overall though, the Street has a Hold consensus rating on Lucid alongside a $21 average price target. This implies a 28.30% potential upside for the stock after a nearly 58.6% price slide so far in 2022.
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