Lucid Group Inc. (LCID) PT Raised to $60 at BofA Securities

November 10, 2021 6:40 AM EST
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Price: $50.51 -3.92%

Rating Summary:
    2 Buy, 0 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 2 | New: 5
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BofA Securities analyst John Murphy raised the price target on Lucid Group Inc. (NASDAQ: LCID) to $60.00 (from $30.00) while maintaining a Buy rating.

The analyst commented, "Our $60 PO for LCID is now based on ~8.5x EV/Sales (prior ~3x) and ~104x EV/EBITDA (prior ~37x) on our 2025 estimates (now using a forward Balance Sheet), implying ~1x EV/Sales and ~6.5x EV/EBITDA on pro-forma capital-induced 2030 estimates."

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