Citi analyst Itay Michaeli lowered the firm’s price target on Lucid Group to $11.50 from $12 and keeps a Buy rating on the shares. The analyst updated the firm’s model post the Q4 results. Lucid’s "soft" 2023 outlook raised near-term demand/reservation conversation concerns that appear tied to last year’s delayed production ramp, some supply-demand mismatching and slower brand building momentum, which the company is addressing, the analyst tells investors in a research note. The good news is that Lucid’s production constraints appear to be largely addressed, adds Citi.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on LCID:
- Lucid Stock: Why It Tumbled and Where It’s Headed
- Lucid Group price target lowered to $12 from $17 at R.F. Lafferty
- Lucid Group downgraded to Neutral from Outperform at Exane BNP Paribas
- Lucid Group price target lowered to $13 from $18 at Cantor Fitzgerald
- Lucid Group downgraded at BofA after lower than expected production forecast