Lucid Group resumed with a Buy at BofA

As previously reported, BofA analyst John Murphy resumed coverage of Lucid Group with a Buy rating and $21 price target after the company reported Q3 results and raised $1.5B of capital through a common stock sale. His rating is based on the view that Lucid is "one of the most attractive among the universe of start-up electric vehicle automakers" and also a relative competitive threat to incumbent automakers, Murphy tells investors.