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.免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。