Lucid Group price target lowered to $13 from $18 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on Lucid Group to $13 from $18 and keeps an Overweight rating on the shares. Given "persistent" negative gross margins, lower-than-expected production guidance and Lucid’s liquidity needs, the firm said it has "become a bit more conservative in the short term" following the company’s Q4 report and FY23 guidance.