RBC Just Cut Its Price Target on Lucid Motors (LCID) Stock in Half

Is Lucid (NASDAQ:LCID) stock worth only $3 per share? That’s what RBC analyst Tom Narayan thinks, as he lowered his price target to $3 from $6 this morning. Narayan believes that Lucid has a technological advantage over its other electric vehicle (EV) peers. However, the company has been unable to attract sufficient demand due to an EV price war and limited visibility. For example, Lucid guided for the production of between 10,000 and 14,000 vehicles at the beginning of 2023. Actual 2023 production was only ...