Why Lucid Group Stock Motored Higher Today

Key Points

• Lucid was the subject of an analyst's price target raise.

• That pundit lifted his fair-value assessment by 30%.

• 10 stocks we like better than Lucid Group ›

An analyst's 30% price target raise was the engine powering Lucid Group (NASDAQ: LCID) stock to a more than 3% gain on Wednesday. This was despite the fact that the pundit isn't exactly bullish on the company. That price pop occurred on a generally blah day for the equities market overall, as the S&P 500 (SNPINDEX: ^GSPC) slipped by 0.3%.

Hitting the gas on a price target increase

The person behind that move was Cantor Fitzgerald's Andres Sheppard. Before market open, the pundit changed his fair-value assessment for Lucid to $26 per share from the previous $20. Despite the double-digit increase, he left his neutral recommendation on the stock unchanged.

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Image source: Getty Images.

Sheppard's new take on the high-end electric vehicle (EV) maker is based on investor meetings his company hosted with interim CEO Marc Winterhoff and CFO Taoufiq Boussaid, according to reports.

In what seems to have been fairly wide-ranging discussions about Lucid's finances and operations, Sheppard had several takeaways. Among these were the executives' affirmation of production guidance -- the company aims to produce 18,000 to 20,000 this year. If that goal is met at even the lower end of the range, it would at minimum double the 9,029 the company produced in 2024. At 18,500, Cantor Fitzgerald's production forecast for this year falls within Lucid's guidance range.

Five-digit estimates

As for deliveries, Sheppard anticipated that the automaker will be able to hit a figure of 16,650. Zooming out some, according to the prognosticator the consensus analyst estimate for full-year 2025 production is 17,800 units, and that for deliveries is 15,669.

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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.