Analyst predict Lucid stock to soar 30% despite price target cut

Investors in the electric vehicle (EV) sector have witnessed a volatile year for Lucid Motors (NASDAQ: LCID) stock in 2024. Despite exceeding analyst expectations for vehicle deliveries in Q1, LCID’s share price has continued to decline. However, a recent analyst prediction by John Murphy of Bank of America offers a potential counterpoint. While Murphy recently revised LCID price target downward, from $4.50 to $3.50, he still forecasts a significant 30% upswing for LCID stock from its current price.This int ...