Lucid Group Stock Drops Sharply Following Analyst Price Target Cut
Lucid Group (NASDAQ: LCID) stock fell nearly 9.5% as of midday on October 12, 2026, following a downgrade from RBC Capital Markets. The firm lowered its price target for Lucid to $4 per share from $7 while maintaining a 'Sector Perform' rating. This new target implies only modest upside potential based on the stock's recent closing price of around $3.79. The decline continued an ongoing downward trend, with shares already down over 8% in the previous week after Lucid reported weaker-than-expected production and delivery numbers for Q3 2026 compared to the same period a year earlier. The company is currently undergoing what it calls an 'operating reset' aimed at improving cash flow by $1.4 billion this year. Analysts suggest that until these initiatives show tangible results, Lucid remains a high-risk investment for shareholders.
Tickers: $LCID
Topics: electric vehicles Lucid Group price target reduction RBC Capital