Banking giants set Lucid stock price targets

Core Viewpoint - Lucid reported a widening net loss of $731 million in Q1, despite achieving a 36% year-over-year revenue growth and delivering 3,109 vehicles, leading to a cautious outlook from several investment banks [1][2]. Financial Performance - In Q1, Lucid's net loss increased to $731 million from $685 million a year earlier [2]. - The company generated $235 million in revenue, reflecting a 36% year-over-year increase [2]. - Vehicle deliveries rose by 58% year-over-year, totaling 3,109 units [7]. Production Goals - Lucid aims to ramp up production to 20,000 vehicles by 2025, more than doubling the previous year's total of 9,000 [3]. Analyst Ratings - Stifel maintained a 'Hold' rating with a price target of $3, citing improved cost management and optimism around the Gravity SUV, but expressed caution due to ongoing cash burn and potential capital needs [5]. - Cantor Fitzgerald reaffirmed a 'Neutral' rating, highlighting the partnership with Saudi Arabia's Public Investment Fund and the Gravity SUV as growth catalysts, while noting financial struggles and macroeconomic risks [6]. - Needham upheld a 'Hold' rating, acknowledging early signs of growth from the Gravity SUV but flagging ongoing losses and high cash burn [7]. Market Reaction - Following the mixed Q1 results, LCID stock saw a modest increase of 1.7% to $2.66, although it remains down over 12% year-to-date [3].