Why Lucid Group (LCID) Are Shares Trading Higher Today - Lucid Gr (NASDAQ:LCID)

Citi analyst Itay Michaeli resumed coverage of Lucid Group, Inc LCID with a Buy rating and a $12 price target.
Citi's latest model & valuation framework incorporated Lucid's reported Q3 results, Q4 deliveries, Q4 capital raise, recent macro pressures & industry EV price actions, lower peer comps, and an intensifying competitive environment.
Despite recent and ongoing headwinds, Lucid's latest Q4 production update & balance sheet actions encouraged the analyst.
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The analyst continues to like the company's technology & product positioning in the EV race.
Citi's key focus areas now include the continued production ramp of the Air, upcoming reservations, demand updates, the company's go-forward pricing strategy, 2023 gross margin outlook, and Gravity launch milestones.
With production execution improving, near-term liquidity addressed, and expectations have come down, the analyst liked the risk and reward here but expected continued near-term volatility amid ongoing macro and competitive developments.
Price Action: LCID shares traded higher by 9.97% at $8.60 on the last check Monday.

This Analyst Sees More Than 50% Upside In Lucid After Q4 Deliveries