R.F. Lafferty upgrades Lucid to Buy as Gravity orders begin
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Contributor since / Followers
Contributor since / Followers
1 month ago
- R.F. Lafferty upgraded Lucid Group (NASDAQ:LCID) to Buy from Hold with a $4 price target following the Q3 report.
- Lucid began taking orders for the Gravity this week, and the company anticipates a “soft production” in the coming weeks following further details on when customer deliveries will begin, the analyst tells investors in a research note.
- The firm cites the company’s cost improvement, continued volume growth, and balance sheet strength for the upgrade. It believes Lucid’s cost structure is improving while maintaining steady sales growth.
- Looking at Seeking Alpha’s Quant rating, LCID has a score just 1.61 out of 5 and sees the stock as a “Sell”. The company received F in the prospect of profitability and momentum, while it got an C+ in valuation and B- in growth factors.
- Turning to the Wall Street community, none of the analysts gave a Buy rating while 10 stood with a Hold whereas, just 2 were on the short side.
- Seeking Alpha analysts see the stock as a Sell, with a rating of 2.28. Where, just 2 analysts stood with a with Hold, with 5 were on the sell side.