Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessCFRA Maintains Strong Sell on Lucid Group, Lowers Price Target to $1...

CFRA Maintains Strong Sell on Lucid Group, Lowers Price Target to $1 Amid High Cash Burn

Add to Favorite
Added to Favorite


CFRA analyst Garrett Nelson reiterated a Strong Sell rating and set a $1 price target for Lucid Group (NASDAQ:LCID) following the company’s latest delivery report. The analysts adjusted the 2024 EPS estimate slightly higher to -$1.33 from -$1.35, while keeping the 2025 estimate unchanged at -$1.25.
Lucid reported Q2 vehicle production and deliveries at 2,110 units and 2,394 units, respectively, which were slightly ahead of estimates of 2,100 units. Although these figures represent a record high for quarterly shipments, the analysts believe the company is still far from achieving the necessary scale to reduce unit costs sustainably.
Lucid’s high cash burn rate remains a concern, averaging about $700 million per quarter. At the end of Q1/24, the company had $4.0 billion in cash and equivalents and $2.4 billion in total debt. Despite significant price cuts, demand for the Lucid Air remains weak, leading to unsustainably high unit costs, with a COGS of $206,000 per vehicle delivered in Q1. Therefore, CFRA continues to view Lucid Group’s financial position and market performance negatively, reaffirming the Strong Sell rating. Lucid is expected to report earnings on August 5.

Subscribe to get Latest News Updates

Latest News

You may like more
more

Wiz Chooses IPO Over $23 Billion Google Deal: CWEB Reports

Several outlets, including CWEB, reported that Alphabet's Google (GOOGL)...

Comcast Maintained at Buy by Loop Capital Despite Media Revenue Miss

Loop Capital analysts reaffirmed a Buy rating for Comcast...

Rosenblatt Analyst Increases Calix Price Target to $45 After Q2 Earnings Report

Rosenblatt analysts increased the price target for Calix (NYSE:CALX)...

AT&T Matches Q2 EPS Estimates Despite Slight Revenue Miss, Shares Climb Over 3 percent

AT&T (NYSE:T) released its second-quarter earnings report, meeting analyst...