Key Highlights
- Tudor Investment Corp acquired 57.25 million shares of LCID valued at approximately $1.36 billion, establishing a 17.66% ownership position
- Citi launched coverage with a Buy rating and set a $17 price target — representing just the second bullish analyst call for LCID on Wall Street
- Citi forecasts Lucid’s revenue climbing from $1.4B in 2025 to $9.2B by 2028, powered by upcoming affordable vehicle models
- Overall Wall Street sentiment remains at “Reduce” with a consensus price target of $13.14, citing worries about cash consumption and leverage
- LCID shares started trading at $9.95, significantly beneath its 12-month peak of $33.70 and its 200-day moving average of $14.54
Lucid Group ($LCID) received notable endorsements this week — though widespread analyst conviction remains elusive.
Tudor Investment Corp accumulated 57.25 million shares of LCID during the third quarter, representing a position worth roughly $1.36 billion. This acquisition grants the investment firm a 17.66% ownership interest in Lucid, positioning Tudor as the electric vehicle manufacturer’s largest institutional shareholder. The LCID position now accounts for approximately 0.8% of Tudor’s overall portfolio and ranks as its 19th-largest investment.
Tudor isn’t the only major player increasing its exposure. Rockefeller Capital Management boosted its holdings by 11.1% during Q2, while Highbridge Capital Management, HBK Investments, and Y Intercept Hong Kong all established fresh positions earlier this year. Institutional ownership has now reached approximately 75.17% of shares outstanding.
On Thursday morning, Citi launched coverage on Lucid with a Buy rating alongside a $17 price target. Analyst Michael Ward highlighted Gravity model momentum, the forthcoming Cosmos debut, and the Uber collaboration as critical catalysts. The firm maintains these elements position Lucid on a trajectory toward profitability.
Ward outlined a demanding execution schedule: the Gravity rollout concluded in Q4 2025, Cosmos manufacturing begins in Q4 2026, and the Uber autonomous vehicle fleet is anticipated to commence commercial service by year-end. Lucid also intends to introduce monthly autonomous vehicle subscriptions in 2027 and expand its European footprint in 2026.
Citi’s Projected Revenue Growth
Citi’s financial projections are aggressive. Following Lucid’s $1.4 billion revenue performance in 2025, the investment 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 the latter half of 2027. Any future capital market transactions, the bank suggested, could eliminate uncertainty and redirect investor attention toward products and innovation.
Notably: Citi’s Buy rating represents only the second positive recommendation on LCID from Wall Street analysts. This limited bullish support presents challenges for a stock currently trading below most price targets.
Analyst Sentiment Overview
The broader analyst community maintains a more reserved stance. Morgan Stanley downgraded LCID to “Underweight” in December while reducing 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 elevate the stock from “Strong Sell” to “Hold” in early March.
The prevailing consensus stands at “Reduce” with a mean price target of $13.14 — modestly above current trading levels, though the directional outlook remains pessimistic. Two analysts assign it Buy ratings, five recommend Hold, and three suggest Sell.
Regarding product development, Lucid has outlined plans for three new vehicle models: the Lucid Cosmos, Lucid Earth, and a Lunar robotaxi prototype, all constructed on a midsize architecture with a targeted starting price under $50,000.
LCID began Thursday’s session at $9.95. The 50-day moving average stands at $10.38, while the 200-day average sits at $14.54. The stock has registered a 12-month low of $9.12 and a 12-month high of $33.70. The company maintains a debt-to-equity ratio of 3.00 and carries a market capitalization of $3.26 billion.
Shares advanced 1.4% during Thursday’s early trading session following Citi’s coverage initiation.
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