A Wall Street analyst is projecting upside potential for Lucid (NASDAQ: LCID) stock over the next 12 months, citing the company’s recent technical achievements.
At press time, Lucid shares were trading at $2.28, down 0.9% on the day. Year-to-date, the electric vehicle (EV) manufacturer remains in the red, with the stock down about 25%.
Regarding the stock’s outlook, Cantor Fitzgerald analyst Andres Sheppard reiterated his ‘Neutral’ rating on Lucid, maintaining a 12-month price target of $3 per share. At the current price, that target implies a potential upside of approximately 30%.
The analyst highlighted Lucid’s impressive technological milestones, including a record-breaking 749-mile battery range on a single charge, recently certified by Guinness World Records.
Other positives include strong battery efficiency, faster charging times, and a strategic partnership with Saudi Arabia’s Public Investment Fund (PIF), which are seen as long-term strengths supporting Lucid’s investment case.
However, Cantor remains cautious due to execution challenges. Lucid’s vehicle deliveries and production in the second quarter of 2025 came in below expectations.
Lucid deliveries
The company delivered 3,309 vehicles, falling short of both Cantor’s forecast and the Visible Alpha consensus range of 3,611 to 3,791. Production also lagged, with 3,863 vehicles built, falling short of the estimated 4,000 units.
The analyst also flagged concerns about high negative gross margins, an unproven new management team, ongoing capital requirements, macroeconomic headwinds, and tariff uncertainty.
While Lucid has set a goal of producing around 20,000 vehicles in fiscal 2025, Cantor Fitzgerald warned this target may be revised downward given recent trends. Still, deliveries in Q2 2025 increased 38% year over year, despite missing forecasts.
Overall, Wall Street expectations for Lucid remain modest. A consensus of eight analysts at TipRanks has set an average 12-month price target of $2.47 per share, with projections ranging from a high of $3 to a low of $1.
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