Lucid group (Nasdaq: lcid) The shares are still declining at 2025 after almost 30% of the 2024 decline. But one analyst at Wall Street believes that the shares of the electric vehicle (EV) manufacturer (EV) fell too much.
Benchmark analyst of the EV sector Mickey Legg Lucide coverage launched with a rating of “buy” and a targeted price of $ 5, reports in reports. That goal It implies that the section has the potential to get about 80% of the recent levels, even after a positive response to the Leggovo report.
Lucid has so far focused on the luxury market of EV. He has now added his luxury gravitational SUV to the EV line that has previously included several air sedan coverings. Success in this niche market has interfered with the slowdown of EV sales growth. But Legg thinks that 2024 will represent the trough, and the demand EV will accelerate in 2025 and beyond. Legg summed up his position in the report, writing:
Lucid, as well as positioned to achieve a significant proportion of this growing capabilities based on its advanced technology, well -stocked balance sheets and access to capital, award -winning vehicles, Saudi investments, partnerships and highly integrated production capabilities.
Saudi Arabia’s support was crucial to Lucida. Saudi Public Investment Fund (PIF) is Lucid’s largest shareholder and inserted more circles of capital into the company. It also has an existing order of 100,000 vehicles for electric sedan Lucids.
Lucid only delivered about 10,000 EV in 2024. The account is that the new gravitational SUV will receive attraction with consumers. The company should report on its complete update of the fourth quarter on February 25th. If investors hear that early interest in gravity will help to increase the amount of delivery significantly in 2025, the LeGG target goal could be achievable.
But the investors could be best served to hear what Lucid management says before jumping into stock.
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