Why Lucid Group Stock Motored Higher Today

An analyst's 30% price target raise was the engine powering Lucid Group (NASDAQ: LCID) stock to a more than 3% gain on Wednesday. This was despite the fact that the pundit isn't exactly bullish on the company. That price pop occurred on a generally blah day for the equities market overall, as the S&P 500 (SNPINDEX: ^GSPC) slipped by 0.3%.The person behind that move was Cantor Fitzgerald's Andres Sheppard. Before market open, the pundit changed his fair-value assessment for Lucid to $26 per share from the previous $20. Despite the double-digit increase, he left his neutral recommendation on the stock unchanged. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool