Key Highlights
- Tudor Investment Corp acquired 57.25 million shares of LCID valued at approximately $1.36 billion, securing a 17.66% ownership position
- Citi launched coverage with a Buy recommendation and $17 price objective — marking just the second bullish analyst call on LCID
- Citi forecasts Lucid’s annual revenue climbing from $1.4B in 2025 to $9.2B by 2028, powered by affordable new vehicle launches
- Analyst consensus sits at “Reduce” with a mean price target of $13.14, highlighting ongoing worries about cash consumption and leverage
- LCID shares started trading at $9.95, significantly beneath its 52-week peak of $33.70 and 200-day moving average of $14.54
Lucid Group ($LCID) received notable endorsements this week — though Wall Street’s broader sentiment remains divided.
Tudor Investment Corp accumulated 57.25 million shares of LCID during the third quarter, representing a position worth approximately $1.36 billion. This acquisition grants the investment firm a 17.66% ownership interest in Lucid, establishing Tudor as the company’s primary institutional shareholder. The position accounts for roughly 0.8% of Tudor’s aggregate portfolio and ranks as its 19th-biggest holding.
Tudor’s move follows a pattern of institutional accumulation. Rockefeller Capital Management expanded its position by 11.1% in the second quarter, while Highbridge Capital Management, HBK Investments, and Y Intercept Hong Kong each established fresh positions earlier this year. Institutional ownership now totals approximately 75.17%.
Thursday morning brought additional positive news when Citi launched coverage on Lucid with a Buy recommendation and $17 price objective. Analyst Michael Ward highlighted Gravity model momentum, the forthcoming Cosmos debut, and the strategic Uber collaboration as critical catalysts. The firm contends these elements position Lucid toward achieving profitability.
Ward outlined an aggressive execution roadmap: the Gravity rollout completed in Q4 2025, Cosmos manufacturing scheduled to commence in Q4 2026, and the Uber autonomous vehicle expected to enter commercial service by year-end. Lucid is additionally preparing to introduce monthly self-driving subscriptions in 2027 and expand its European footprint in 2026.
Citi’s Projected Revenue Growth
Citi’s financial projections are notably optimistic. Following Lucid’s $1.4 billion revenue performance in 2025, the bank anticipates $2.4B in 2026, $5.9B in 2027, and $9.2B in 2028. This growth trajectory depends on successful manufacturing of the more affordable midsize vehicle range.
Citi also expressed confidence that Lucid maintains sufficient liquidity extending through late 2027. Any supplementary capital raising activities, the bank suggested, could eliminate uncertainty and redirect investor attention toward product innovation and technical capabilities.
Notably: Citi’s Buy recommendation represents only the second optimistic rating on LCID from Wall Street analysts. This represents limited bullish support for a stock currently trading beneath most analyst price objectives.
Analyst Community Perspective
The wider analyst community maintains a more reserved stance. Morgan Stanley downgraded LCID to “Underweight” in December and reduced its price target from $30 to $10. Cantor Fitzgerald lowered its target from $21 to $14 with a “Neutral” stance in February. Royal Bank of Canada maintained its “Sector Perform” rating with a $10 target during the same period. Zacks did upgrade the stock from “Strong Sell” to “Hold” in early March.
The aggregate consensus registers at “Reduce” with a mean price target of $13.14 — positioned above current trading levels, though the overall recommendation trend is bearish. Two analysts assign it Buy ratings, five suggest Hold, and three recommend Sell.
Regarding product development, Lucid has outlined plans for three upcoming models: the Lucid Cosmos, Lucid Earth, and a Lunar autonomous taxi concept, all constructed on a midsize architecture with a targeted starting price under $50,000.
LCID commenced Thursday trading at $9.95. The 50-day moving average stands at $10.38, while the 200-day sits at $14.54. The stock has recorded a 12-month floor of $9.12 and a 12-month ceiling of $33.70. The company maintains a debt-to-equity ratio of 3.00 and a market capitalization of $3.26 billion.
Shares advanced 1.4% during Thursday morning trading session following the Citi coverage initiation.
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