2021-09-09 06:22:18 LCID Lucid Group
09/09/21 09/0906:22 09/09/2106:22 | Citi starts Lucid Group at Buy on electric vehicle tech credentialsCiti analyst Itay Michaeli initiated coverage of Lucid Group with a Buy rating and $28 price target. The analyst says Lucid has the "necessary building blocks" to benefit from his car of the future thesis. The company offers leading electric vehicle technology credentials, years of development experience, brand momentum and speed-to-market, Michaeli tells investors in a research note. The analyst also likes the company's initial "L2+/AV sensor/software approach." Lucid "resembles much of what we like about Tesla, but without the lofty 2030 share & FSD/AV outcomes that one must underwrite," Michaeli writes. |
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