Stifel Nicolaus analyst Stephen Gengaro appears to have been at least partially impressed by Lucid’s (NASDAQ: LCID) March 12 Investor Day, considering he, on March 16, reiterated the $17 12-month price target for the stock.
Should this target be met, LCID stock will have rallied 72.41% in one year’s time from its press time price of $9.86.
According to the expert, the bullish forecast is largely backed by the March 12 presentation, considering he wrote that ‘Lucid highlighted significant updates across its Midsize platform, autonomous capabilities, and provided medium- to long-term outlook.’
Specifically, the standout elements of the Investor Day came in the form of the two new midsize models – Cosmos and Earth – the Lunar robotaxi model, plans for Level 4 autonomous driving by 2029, and the entry of autonomy subscriptions in 2027.
The midsize platform might be of particular note as they are expected to boost the electric vehicle (EV) maker’s addressable market from some $40 billion to approximately $350 billion by 2030.
Interestingly, despite the positive assessment and highly bullish price target – $17 not only constitutes a PERCENTAGE rally but would mean Lucid stock reclaimed highs it last held in October 2025 – Stephen Gengaro rated LCID shares as ‘Hold.’
Wall Street sets Lucid stock 12-month price target
Zooming out, Stifel Nicolaus ‘Neutral’ rating appears in line with the wider Wall Street. Indeed, Lucid stock is overall considered a ‘Hold’ based on the revisions made in the latest three months and is, on average, expected to rally to $12.86.
Elsewhere, the important caveats for the analysts’ outlook are that there have been few notable updates since the Investor Day and that LCID shares were trading at their average price target as recently as late December 2025 – less than three months ago.
Similarly, though Morgan Stanley (NYSE: MS) issued a note a day after the March 12 event, it clarified it deems Lucid stock a ‘Sell,’ despite forecasting a modest 12-month upside to $10.
Lucid stock falls nearly 7% since first-ever Investor Day
Lastly, Lucid stock itself continued the generally negative performance since the Investor Day. Between the March 12 morning bell and press time on March 17, the equity fell approximately 7% and is, after the brief rally ahead of the event, 4.82% down in the weekly chart.
Additionally, LCID shares fell more than 11% year-to-date (YTD) and are, with their press time price of $9.86, 54% in the red in the last 12 months.
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