Wall Street analysts are signaling cautious optimism for Lucid Group (NASDAQ: LCID) despite the stock trading near record lows.
Notably, Lucid’s share price has been highly volatile and has trended downward amid weak fundamentals. At the close of the last session, LCID stock was trading at $6.25, down nearly 44% year-to-date.
Based on forecasts from 10 analysts tracked by TipRanks, the average 12-month price target stands at $13.13, implying roughly 110% upside.
Of the 10 analysts, seven recommend holding the stock, one rates it a buy, and two suggest selling, bringing the consensus rating to ‘Hold’. The analysts have a high estimate of $17 and a low of $8.
While the forecast suggests potential recovery over the next 12 months, expectations remain tempered by ongoing operational and financial challenges.
Among the experts, TD Cowen analyst Itay Michaeli cut his LCID price target to $10 from $19 on April 15 while maintaining a ‘Hold’ rating, citing a more cautious outlook for the autos sector. He noted automakers are better positioned than suppliers to maintain guidance credibility, with limited risk of downward revisions. The update followed Lucid’s Q1 2026 report, which showed production of 5,500 vehicles and deliveries of 3,093.
Citi also initiated coverage on Lucid with a ‘Buy’ rating. Analyst Michael Ward pointed to a positive inflection driven by the Gravity rollout, upcoming Cosmos production, expanding ties with Uber, and backing from the Public Investment Fund. These factors are expected to support a path to breakeven. The firm also highlighted solid liquidity into late 2027 and projected revenue growth accelerating sharply through 2028 as production scales.
Lucid stock fundamentals
Meanwhile, recent developments around the EV maker have added complexity to the outlook after the company appointed Silvio Napoli as CEO in April, a move aimed at accelerating growth and improving profitability.
The company also raised about $1.05 billion in fresh capital, including increased investment from Uber and backing from a Saudi Public Investment Fund affiliate, while expanding its robotaxi partnership targeting at least 35,000 vehicles.
However, weak first-quarter performance has weighed on sentiment. Production and deliveries missed expectations, partly due to supply chain disruptions affecting the Lucid Gravity SUV, while preliminary revenue of roughly $280 million to $284 million fell significantly below forecasts.
Although Lucid reaffirmed its 2026 production guidance of 25,000 to 27,000 vehicles and continues to pursue long-term growth through new platforms and software-driven revenue, analysts remain cautious.
