Morgan Stanley lowered its price target on Lucid Group (LCID) to $3 from $5. The firm maintained its underweight rating on the electric vehicle maker’s stock. The new target is the lowest among Wall Street analysts covering Lucid and implies potential downside from its recent closing price.
This is Morgan Stanley’s third price-target cut for Lucid since December 2025. The firm’s bearish coverage of the automaker has lasted more than five years.
The latest revision follows Lucid’s report of a year-over-year decline in third-quarter vehicle deliveries. The company also disclosed an additional $400 million draw on its credit line from Saudi Arabia’s Public Investment Fund.