The Analysts Disagree: What's Going On With Lucid Thursday?

Lucid Group, Inc. LCID shares raced higher at the open on Thursday, but have since pulled back. Analysts from Cantor Fitzgerald and Morgan Stanley reiterated LCID price targets and maintained conflicting ratings on the stock with one Overweight and one Underweight.

What To Know:

Cantor Fitzgerald analyst Andres Sheppard reiterated LCID shares with an Overweight rating and maintained the $10 price target for the stock. The report attributed the unchanged rating and price target to the company's low second-quarter production and delivery figures as well as the pending release of Lucid's second-quarter financials on August 7.

Also on Thursday, Morgan Stanley analyst Adam Jonas shared an opposing view and reiterated LCID with an Underweight rating and maintained its $5 price target on the stock.

According to data from Benzinga Pro, LCID stock is trading above the stock's 50-day moving average of $50 day Moving Average of $6.97 and has gained nearly 16% over the past month. 

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LCID Price Action: According to data from Benzinga Pro, Lucid shares are trading 0.30% higher at $7.18 at the time of publication.

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