LCIDW - Lucid Motors: Higher Valuations Ahead As It Transitions From An 'EV Startup' To An 'EV Maker'
- The quick rebound Lucid's stock made after the post-lockup sell-off earlier this month is a testament to investors' optimism on Lucid's long-term growth prospects.
- Achieving a record-breaking EPA range rating of 520 miles on a single charge last week also officially marks Lucid's transition from an early-stage EV start-up to a "legitimate" EV maker.
- The transition underpins higher valuations ahead, as Lucid begins production on its flagship Air sedan and prepares for its first deliveries later this year.
- On these considerations, we have revised our 12-month price target from $26.13 to $29.79, representing an upside potential of more than 18% at the time of writing (September 24th).
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Lucid Motors: Higher Valuations Ahead As It Transitions From An 'EV Startup' To An 'EV Maker'