Written by Cláudio Afonso | LinkedIn | X
RBC Capital analyst Tom Narayan release a new research note Thursday on Lucid Motors, less than 24 hours after attending the company’s Tech and Manufacturing Day in Casa Grande, Arizona.
The analyst sees tech licensing as “the greatest upside” for the stock.
“We attended Lucid’s Investor day in Arizona yesterday. The company’s tech superiority on EV powertrain is widely accepted and we think the greatest upside to shares remains its ability to license this tech,” Narayan wrote.
Narayan reiterated the Sector Perform rating on Lucid shares and a $3.00 price target indicating a downside of 24 per cent based on the last closing price of $3.98 per share.
Later in the note, the analyst questions the option to release a sub-$80,000 model — Lucid Gravity — instead of focusing on bringing the mid-size sub-$50,000 SUV to the market. At the event, the company reaffirmed its goal of starting producing the third model in the second half of 2026.
“We do wonder why Lucid doesn’t go straight to mid-size given its tech advantage and why it needs to make higher end vehicles to establish a brand identity first.”
The company’s latest update revealed that its mid-size program also includes two additional vehicles alongside the mid-size SUV, positioning the California-based automaker to enter a more affordable market segment compared to its first two models.
Lucid Motors sold 660 vehicles during August in the United States, according to Motor Intelligence. The company had sold 608 Air vehicles in June and 697 in July.
Earlier today, also Stifel analyst Stephen Gengaro and Cantor analyst Andres Sheppard adjusted their price target on the company shares following the event.
Written by Cláudio Afonso | LinkedIn | X
