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."