Lucid Faces Mixed Analyst Targets as Bolt Autonomy Plan Advances

Lucid Group is facing mixed market expectations as it advances a planned autonomous-mobility partnership with Bolt and works to reduce vehicle inventory after third-quarter deliveries exceeded production.

Cantor Fitzgerald analyst Andres Sheppard reiterated a Neutral rating and an $8 price target for Lucid on Oct. 12. The $8 target represented 130% implied upside from a $3.44 share price.

RBC Capital lowered its Lucid price target to $4 from $7 while maintaining a Sector Perform rating.

The contrasting views came as Lucid and Bolt pursue a European autonomous-mobility program announced Sept. 17. The companies plan to develop and deploy vehicles based on Lucid’s upcoming Midsize platform, with Bolt aiming to deploy at least 25,000 autonomous Lucid vehicles and targeting 100,000 autonomous vehicles on its platform by 2035.

The plan is forward-looking and does not represent completed vehicle deployment. The vehicles are expected to support SAE Level 4 autonomous mobility and use NVIDIA Hyperion. Bolt is expected to own and operate the fleet, while Bolt Autonomous Driving Solutions will help lead product development, infrastructure and commercial operations.

“Shared autonomous mobility offers the perfect opportunity to extend our unique technology beyond consumer vehicles,” Lucid CEO Silvio Napoli said.

Lucid produced 2,954 vehicles and delivered 3,806 in the third quarter ended Sept. 30. Deliveries exceeded production as the company reduced inventory under an operating reset targeting $1.4 billion in 2026 cash-flow improvements.

“Autonomous driving in Europe requires data, software, vehicles, and operations to work as one system built for European roads and regulation,” Bolt founder and CEO Markus Villig said.

Lucid reported $3.0 billion in total liquidity as of June 30 and said operational measures and financing were expected to provide liquidity into 2027. The company scheduled its third-quarter earnings call for Nov. 9 at 5:30 p.m. ET (22:30 UTC).