Wall Street sets Lucid stock price target for the next 12 months

Core Viewpoint - Lucid Motors' stock performance has been disappointing despite significant backing from the Saudi Public Investment Fund and various partnerships aimed at revitalizing the business, with the stock ending 2024 down 27.23% at $3.02 [1] Group 1: Stock Performance - The start of 2025 has shown minimal improvement, with shares rising only 0.17% to $3.03 as of January 2 [2] - The average 12-month price target for Lucid Motors is $2.91, which is 4.28% below the current price [4] - The highest forecast predicts a 32% increase to $4 over the next 52 weeks, but overall sentiment remains neutral [5][3] Group 2: Analyst Ratings - Current ratings include one 'buy', two 'sell', and six 'hold' ratings, indicating a cautious outlook from analysts [4] - CFRA's Garrett Nelson has downgraded the stock from 'sell' to 'strong sell', with a price forecast of $1, citing high cash burn and low demand [8] - Morgan Stanley's Adam Jonas and Cantor Fitzgerald's Andreas Sheppard both maintain a price target of $3, with Jonas reiterating a 'sell' rating [9][11] Group 3: Market Concerns - Analysts express concerns over the high cash burn rate and low demand for Lucid vehicles, even after price cuts [8] - The removal of some EV incentives and the high price of Lucid vehicles are also factors affecting market sentiment [10]