Lucid Group price target lowered to $12 from $17 at R.F. Lafferty

R.F. Lafferty analyst Jaime Perez lowered the firm’s price target on Lucid Group to $12 from $17 and keeps a Buy rating on the shares following the Q4 results. The company still has some supply chain issues going into Q1, which is expected to have a negative impact on gross margins, the analyst tells investors in a research note. However, most of the production problems Lucid experienced in 2022 are largely over, the firm adds.