Lucid’s Q4 production pre-announcement ‘encouraging, says Cantor Fitzgerald

Cantor Fitzgerald analyst Andres Sheppard reiterates an Overweight rating and $18 price target on shares of Lucid Group after the company pre-announced production vehicles for Q4 above the firm’s estimates and above company guidance. Sheppard is "encouraged" by Lucid’s Q4 production and delivery numbers, a sign that production is beginning to scale and ramp up, the analyst tells investors in a research note. The analyst remains bullish on Lucid over the long-term, and continues to believe that the company’s vehicles are able to provide greater battery efficiency, longer range, faster charging, and more interior space relative to peers.