Despite its optimistic promises from the initial public offering (IPO) era, the electric vehicle (EV) maker Lucid (NASDAQ: LCID) hasn’t been known as a stellar stock market performer.
LCID shares are more than 75% below their first-day value of $9.89, have lost 15.38% of their value in the last 12 months, and crashed 20% in 2025 despite the strong February rally on a set of positive developments, including a better-than-expected fourth-quarter (Q4) delivery report, and a surprise $5 price target with a ‘buy’ rating received from Benchmark.
Though the overall picture is grim, there has been some positivity in the more short-term charts. At its press time price of $2.41, Lucid stock is 18.72% above the mid-March $2.03 lows and has rallied 14.15% in the last 30 days.
Perhaps the EV equity’s most interesting part came in the March 31 session when it soared 4.31%.
Cantor Fitzgerald forecasts a 24% Lucid stock rally
The rally in the latest session can be linked most closely to the latest Wall Street analyst price target update on March 31: the $3 twelve-month forecast assigned by Cantor Fitzgerald’s Andres Sheppard.
Specifically, the firm estimated that LCID shares are fairly valued – hence, the EV maker came short of a ‘buy’ rating, Sheppard opting for ‘neutral’ – but have some upside potential due to the company’s own and analyst’s fiscal 2025 delivery forecasts aligning.
Should Lucid meet the target, it would constitute a major milestone and ensure the firm has effectively doubled. In fiscal 2024, the EV maker shipped 10,241 cars and produced 9,029. For the current year, the company is hoping to hit 20,000, with its highly anticipated Gravity SUV serving as an anchor for the target.
If met, Lucid will have increased its output by 95.29% in a single year, and if Cantor’s price target is reached, it would indicate a 24.48% rally from the press time price.
Can Lucid double its EV deliveries in 2025
Despite the overall setup appearing bullish, investors would be wise to remain cautious. In 2024, Lucid beat its 9,000 vehicle target and saw a remarkable delivery increase compared to the 6,001 cars it shipped in 2024.
Simultaneously, as comparatively strong as the performance has been, expecting to double shales within 12 months is a tall order, especially considering the economic uncertainty prevalent in 2025.
Still, it is not out of reach as, on the one hand, there is something of an analyst consensus that the Gravity SUV will be a game changer – though its impact might still be limited by the high price point – while Tesla’s (NASDAQ: TSLA) downfall might enable Lucid to fill the EV vacuum in certain markets.
Featured image via Shutterstock
