Lucid Group (NASDAQ:LCID) might be in for a major comeback, according to Benchmark analyst Mickey Legg, who just gave the stock a Buy rating with a $5 price target, a potential gain of more than 85% from its Feb. 11 closing price of $2.69.
Legg's bullish outlook is based on rising U.S. EV adoption, pointing out that while 1.3 million electric vehicles were sold in 2024, the industry is gearing up for bigger growth. He sees Lucid as a strong player, thanks to its advanced technology, solid balance sheet, and access to capital. Lucid has had a rough ride.
Since going public in 2021, its stock has plunged over 70%, weighed down by production struggles and sluggish sales. Now trading below $5, it's in penny stock territory. All eyes are on Lucid's Q4 2024 earnings report on Feb. 25, which could be a make-or-break moment for investors hoping for a turnaround story.
This article first appeared on GuruFocus.免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。