Lucid Group (NASDAQ: LCID) just received a fresh price target from analysts at investment banking and financial advisory firm Benchmark.
On February 12, the firm initiated coverage on the luxury EV maker, giving it a “buy” rating and setting a $5.00 price target. If that prediction holds, Lucid stock could see an 85.87% increase from its current price.
Cantor Fitzgerald is the only other firm to issue a price target in 2025, maintaining a neutral rating and a $3.00 target in a research note on January 7.
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With only two updated price targets so far this year, analysts seem divided on Lucid’s outlook with Cantor Fitzgerald’s price target arriving when LCID shares were trading at $3.18.
Lucid stock’s latest PT
Following Benchmark’s coverage, Lucid shares rose 1.86% in premarket trading. However, the stock has been moving within a wide range, trading between $2.61 and $3.23 over the last month. Right now, it’s sitting near the lower end of that range.
Lucid has managed to hold support around $2.68 multiple times, but resistance remains strong at $2.75, $2.79, and $2.83. If LCID stock pushes past these levels, it could climb higher, especially if upcoming CPI data sparks a broader market rally.
Over the past few weeks, Lucid shares have bounced between $2.60 and $2.99, showing signs of consolidation.
While Benchmark’s bullish call suggests major upside, Lucid’s recent downward trend makes it a risky buy for now. The stock is hovering near support, but without strong momentum, a breakout isn’t guaranteed.
For traders watching this closely, staying above $2.68 could be key, while a move above $2.84 might signal a shift toward higher prices.
Featured image via Shutterstock
