Lucid Group Inc (LCID)

[speki2421]

Lucid Group price target raised to $57 from $28 at Citi Citi analyst Itay Michaeli raised the firm's price target on Lucid Group to $57 from $28 and keeps a Buy rating on the shares. The company reported an "encouraging" Q3 update highlighted by reservations now at greater than 17,000 and a "healthy" reservation mix implied by the $1.3B order book, Michaeli tells investors in a research note. Further, the company expressed confidence in the 2022 volume target and Lucid Air won MotorTrend Car of the Year, says the analyst. Michaeli thinks the Q3 provided evidence that Lucid's "strong" electric vehicle tech credentials are generating both commercial and brand momentum. LCID Lucid Group

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