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Extending a slide that saw it race more than 8% lower last week, Lucid Group (NASDAQ:LCID) stock is driving lower today. Investors learned of a firm's more bearish perspective on the electric car stock, and it seems to be all they need to power the stock lower.
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Maintaining a Sector Perform rating, RBC Capital lowered its price target on Lucid Group to $4 from $7 this morning. Based on Lucid's Friday close of $3.79, the new price target implies a meager 5.5% upside.
According to , the updated outlook from RBC Capital was part of broader coverage of carmakers ahead of the reporting of third-quarter financial results.
Last week, Lucid reported producing 2,954 vehicles and delivering 3,806 vehicles during the third quarter of 2026. During the same period in 2025, Lucid reported producing 3,891 vehicles and delivering 4,078 vehicles.
When reading an analyst's price target, it's always imperative to remember that it's simply one opinion -- and opinions often vary. Switching focus from the new $4 price target to the company's fundamentals, however, doesn't do much in terms of suggesting that Lucid stock is now a buy.
The company is in the middle of what it has dubbed an "operating reset," in which management is "targeting $1.4 billion of cash flow improvements in 2026." Until the company demonstrates that this initiative has produced results, Lucid stock is one to watch from the side of the road.
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Scott Levine has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Why Lucid Group Stock Is Moving in Reverse Today was originally published by The Motley Fool
