New York, September 11 (Patrika English News): Lucid Group, Inc. (NASDAQ:LCID) has witnessed a sharp upward revision in its price target following a $300 million investment from Uber Technologies, Inc. and the completion of a reverse stock split.
The California-based EV maker reported its Q2 2025 earnings on August 5, highlighting a 38% year-on-year growth in vehicle deliveries, marking the sixth straight quarter of record performance. Alongside, the company confirmed that Uber has invested $300 million, with plans underway to launch its first robotaxi service in a major U.S. city next year.
To strengthen its stock structure, Lucid carried out a 1-for-10 reverse split, reducing its outstanding shares from 3.07 billion to 307.3 million. Following this move, Cantor Fitzgerald raised its price target from $3 to $20, though it maintained a Neutral rating on the stock.
Investor confidence also appears to be building. According to Insider Monkey data, 27 hedge funds currently hold stakes in Lucid Group. Founded in 2007 and headquartered in California, Lucid is widely recognized for its luxury EVs, particularly the Lucid Air sedan, noted for high performance and long driving range.
