Summary:
- Uber pledges a $300 million investment in Lucid (LCID, Financial) for robotaxi expansion.
- Lucid to supply Uber with over 20,000 autonomous electric vehicles in partnership with Nuro.
- Analysts offer mixed forecasts, with significant potential upside according to GuruFocus estimates.
Uber is gearing up to make a significant $300 million investment in Lucid Group Inc (NASDAQ: LCID) to bolster its robotaxi service. This strategic partnership is set to revolutionize Uber's fleet by acquiring more than 20,000 electric vehicles from Lucid, integrated with cutting-edge autonomous driving technology developed by Nuro. Scheduled to launch next year, this initiative marks a substantial expansion in Uber's automated fleet offerings, emphasizing the growing prominence of autonomous vehicles in urban mobility solutions.
Wall Street Analysts Forecast
Wall Street analysts have weighed in with their price targets for Lucid Group Inc (LCID, Financial), providing insights into the stock's potential direction. Based on projections from 13 analysts, the average price target is positioned at $2.52, with estimates stretching from a high of $5.00 to a low of $1.00. This average target reflects a potential downside of 24.50% from the current trading price of $3.34. For more in-depth details on these estimates, please visit the Lucid Group Inc (LCID) Forecast page.
The consensus recommendation from 16 brokerage firms places Lucid Group Inc (LCID, Financial) at an average brokerage recommendation of 3.2, which denotes a "Hold" status. The rating scale utilized by analysts ranges from 1, indicating a Strong Buy, to 5, indicating a Sell.
Delving into GuruFocus metrics, the estimated GF Value for Lucid Group Inc (LCID, Financial) is projected at $9.00 in one year. This estimate suggests a remarkable upside potential of 169.31% from the current price of $3.34. The GF Value represents GuruFocus's assessment of the fair trading value of the stock, based on historical trading multiples, previous business growth, and future performance projections. For further details, please visit the Lucid Group Inc (LCID) Summary page.
