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Investing.com - Stifel raised its price target on Lucid Group Inc. (NASDAQ:LCID) to $21.00 from $2.10 on Monday, while maintaining a Hold rating on the electric vehicle manufacturer’s stock. The company, currently valued at $5.66 billion, has seen its stock decline nearly 40% year-to-date, according to InvestingPro data.
The significant price target adjustment reflects Lucid’s 1-for-10 reverse stock split that became effective on September 2, 2025, rather than any fundamental change in the firm’s outlook on the company.
Stifel analyst Stephen Gengaro explained the technical nature of the price target change in a note to investors, emphasizing that the firm’s Hold rating on Lucid stock remains unchanged.
The reverse stock split reduced Lucid’s outstanding shares by combining every 10 shares into a single share, automatically increasing the per-share price by a factor of 10.
Lucid Group, which competes in the luxury electric vehicle market, implemented the reverse split to boost its share price and maintain compliance with stock exchange listing requirements.
In other recent news, Lucid Group, Inc. completed a significant 1-for-10 reverse stock split, reducing its outstanding shares from approximately 3.07 billion to about 307.3 million. This move also decreased Lucid’s authorized common shares from 15 billion to 1.5 billion. Following this stock split, Cantor Fitzgerald adjusted its price target for Lucid to $20.00, maintaining a Neutral rating. Additionally, Lucid announced the completion of a $300 million investment from Uber Technologies, Inc. as part of their joint development program for autonomous vehicles. These vehicles will be manufactured at Lucid’s Arizona facility and will operate on Uber’s ride-hailing platform.
In another development, Lucid Diagnostics received positive attention as Canaccord Genuity reiterated its Buy rating with a $3.00 price target. This reaffirmation followed a meeting where the usage of Lucid’s EsoGuard test was reevaluated by Medicare Administrative Contractors. These recent developments highlight the ongoing strategic moves and partnerships by Lucid Group and its affiliates.
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