Lucid Group's Strategic Leap with Uber and Nuro
- Lucid Group partners with Uber and Nuro to deploy autonomous vehicles.
- Lucid shares surged by 36% following the announcement.
- Analysts provide an array of price targets with a mild downside risk observed.
Lucid Group (LCID, Financial) has entered into a transformative collaboration with ride-hailing giant Uber (UBER) and autonomous vehicle leader Nuro. This strategic alliance aims to integrate over 20,000 autonomous SUVs into Uber's network over the next six years. Following this exciting announcement, Lucid's stock experienced a remarkable 36% jump. Initial testing of this cutting-edge technology will commence in Las Vegas, showcasing Nuro's innovative capabilities.
Wall Street Analysts Forecast
Thirteen analysts have shared their one-year price targets for Lucid Group Inc (LCID, Financial), with an average target of $2.52. The projections span a high estimate of $5.00 to a low of $1.00. These targets suggest a potential downside of 19.13% from the current trading price of $3.12. For a comprehensive view of these estimates, visit the Lucid Group Inc (LCID) Forecast page.
The consensus from 16 brokerage firms places Lucid Group Inc's (LCID, Financial) average recommendation at 3.2, which aligns with a "Hold" position. This rating sits within a scale where 1 signifies a Strong Buy and 5 indicates a Sell.
Alternatively, GuruFocus's proprietary GF Value estimation predicts that Lucid Group Inc (LCID, Financial) could reach a value of $9.00 within a year, hinting at an attractive upside of 188.46% from the current price of $3.12. The GF Value takes into account the stock's historical trading multiples and anticipates future business performance. For more detailed insights, please refer to the Lucid Group Inc (LCID) Summary page.
