Lucid Is Skyrocketing Today. Is the EV Stock a Buy?

Lucid (NASDAQ: LCID) stock is posting huge gains in Thursday's trading. The electric vehicle (EV) company's share price was up 13.4% as of 3 p.m. ET and had been up as much as 15.4% earlier in the daily session.Lucid's valuation is surging today following recent analyst coverage. In a note published yesterday, Benchmark analyst Mickey Legg initiated coverage on the stock with a buy rating and a one-year price target of $5 per share.As of this writing, Legg's price target implies additional upside of roughly 52%. In his bullish write-up on the stock, the analyst pointed to an improving outlook for EV production this year and acceleration in 2026 and 2027. He expects that the company's technology, highly rated vehicles, access to capital through Saudi Arabia's Public Investment Fund (PIF), and other factors will help Lucid succeed in the EV market and pave the way for strong capital appreciation. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool