Cantor Fitzgerald analyst Andres Sheppard reiterated a Neutral rating and $8.00 price target on Lucid Group Inc. (NASDAQ: LCID).

The analyst commented, "Lucid (LCID, N) and Bolt (private), the European ride-hailing platform, unveiled a partnership to co-develop and roll out self-driving vehicles across Europe. Drawing on LCID's upcoming Midsize platform, Bolt is targeting an initial fleet of ~25K units spanning multiple European markets, followed by its longerterm target of ~100K self-driving vehicles by 2035. More importantly, this partnership marks an entry for LCID into the European ride-hailing market, which we view as material. This partnership will complement LCID's robotaxi partnership with Uber (UBER, OW), which was previously expanded to >35,000 vehicles (from prior ~20,000) over six years, starting in 4Q26. Separately, in Q2, LCID reaffirmed that its AMP-2 Manufacturing facility in Saudi Arabia remains on track after it completed its construction phase and entered its "industrialization phase." LCID is targeting initial production at AMP- 2 in "early 2027," and we view this as the most material catalyst for this year, ahead of production of the company's upcoming Midsize platform. Recall that LCID has an agreement with the government of Saudi Arabia for up to 50,000 vehicles (plus an option for an additional 50,000). Lastly, in an interview with Bloomberg, CEO Silvio Napoli disclosed that the restructuring work with Alix Partners has now ended, and the company remains focused on improving execution and strengthening operations."

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Shares of Lucid Group Inc. closed at $4.09 yesterday.