LCID Stock News: Lucid Group Inc upgraded by Bank of America with $30 target


  • NASDAQ:LCID fell by 5.5% on Tuesday as the broader markets tumbled yet again.
  • Lucid investors are digesting Morgan Stanley’s price target for the stock.
  • It was another day of mediocre gains and mostly losses for the electric vehicle sector. 

Update: Lucid Motors (LCID) stock is trading higher in Wednesday's premarket as Bank of America is out with coverage on the stock. The bank has initiated coverage with a Buy rating and a $30 price target. LCID stock is trading over 2% higher in the premarket. 

NASDAQ:LCID drove lower on Tuesday, as the stock continues to languish in range ahead of the Production Preview Week event at the end of the month. On Tuesday, shares of Lucid fell by 5.5% and closed the day at $18.95. It was a sort of delayed reaction for Lucid following yesterday’s release of Morgan Stanley’s initial coverage of the stock. Lucid continues to struggle to hold support, and is trading well below both the key 50-day and 200-day moving averages, signalling that the stock has been trading lower.


Stay up to speed with hot stocks' news!


The initial coverage from noted electric vehicle analyst Adam Jonas clearly did not sit well with Lucid investors on Tuesday. Jonas initiated an underweight rating with a bearish price target of $12.00. Lucid is one of the more popular stocks amongst retail investors so many took to social media in outrage. Jonas noted that the premium EV sector is not as large as Lucid believes it is, and that the company will have difficulty in general competing with more established brands like Tesla (NASDAQ:TSLA). The analyst also spoke about Lucid’s $31 billion valuation, and that the most bullish possible outcomes for the company are already baked into the price.

LCID stock price forecast

Lucid wasn’t the only EV stock to be trading lower on Tuesday, as the broader markets showed continued volatility during September OPEX week. Tesla managed a last second comeback at the closing bell to finish 0.20% higher, while Nio (NYSE:NIO) closed the day lower by 1.30%. Ford (NYSE:F) and General Motors (NYSE:GM) also finished lower on Tuesday, as all three major indices declined during the session. 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

AUD/USD bears pause for a breather ahead of US PCE data

AUD/USD bears pause for a breather ahead of US PCE data

AUD/USD touched a nearly four-week low on Friday, though it lacks follow-through as traders opt to wait for the release of the US PCE Price Index later during the US session. The crucial US inflation data could offer cues about the Fed's rate-cut path and drive the USD. 

AUD/USD News
USD/JPY flat-lines below 150.00 after softer Tokyo CPI print

USD/JPY flat-lines below 150.00 after softer Tokyo CPI print

USD/JPY holds steady near the top end of its weekly range following the release of softer-than-expected Tokyo CPI, though it struggles to find acceptance above the 150.00 mark. The BoJ's rate-hike plan, along with a weaker risk tone, underpins the safe-haven JPY and caps the pair amid subdued USD price action. 

USD/JPY News
Gold price hangs near two-week low; US PCE data awaited

Gold price hangs near two-week low; US PCE data awaited

Gold price languishes near a two-week low touched on Thursday as traders await the release of the US PCE Price Index for cues about the Fed's rate-cut path. The crucial inflation data will influence the USD and provide a fresh directional impetus to the non-yielding yellow metal. 

Gold News
Crypto AI altcoin market rallies fueled by NVIDIA's Q4 earnings:  KAITO, GRASS, Berachain price analysis

Crypto AI altcoin market rallies fueled by NVIDIA's Q4 earnings:  KAITO, GRASS, Berachain price analysis

Crypto AI tokens’ aggregate valuation rose $660 million on Thursday as investors reacted to  NVIDIA’s Q4 earnings report. Market data show investors prioritized three low-cap tokens during the rally, while large-cap AI projects like ICP, Near Protocol and Render moved sideways. 

Read more
February inflation: Sharp drop expected in France, stability in the rest of the Eurozone

February inflation: Sharp drop expected in France, stability in the rest of the Eurozone

Inflation has probably eased in February, particularly in France due to the marked cut in the regulated electricity price. However, this overall movement masks divergent trends. Although disinflation is becoming more widespread, prices continue to rise rapidly in services, in France as well as elsewhere in the Eurozone.

Read more
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025