The capacity of Lucid Motors (NASDAQ: LCID) of reaching high-end consumers with its luxury sedans, SUVs, crossovers, pickups and coupes, drew another upbeat rating from a financial research and analysis firm.

On September 12, Jaime Perez, an analyst at RF Lafferty & Co., issued the aforementioned rating, due to the strong buyer interest shown by the company.

Over the past five days, LCID has jumped nearly 10%, mainly due to achieving another positive rating, and the fact that Perez has set a target price of $19 for the stock.

Also, there seems to be speculation that Lucid has managed to increase its production to 40-50 cars a day. However, this information does not come from official sources.

The short-term rise in the stock has the potential to continue, although markets are currently choppy. So it’s debatable how long this rally can actually last.

LCID Chart and Analysis

Over the last month, LCID has been trading between $13.86 and $18.60, with a long-term negative trend.

According to technical analysis by Finbold, while stocks are below their 52-week performance, LCID shows a support line between $14.61 and $14.68, and a resistance line between $16.50 and $14.68. $16.63.

LCID 20-50-200 SMA Line Chart. Source: LCID 20-50-200. Data from Finviz.com.

TipRanks analysts rate the stock as “hold,” predicting the average price over the next 12 months could reach $21.67, which is 25.99% above the current trading price of $17.20.

Also, out of the 4 TipRanks analysts covering the stocks, 2 have a buy rating, while one has a hold rating, and another a sell rating.

Wall Street Analysts’ Price Targets for LCID Stocks. Source: TipRanks

Lucid appears to have a lot of money to survive for an extended period, so a bigger dip in broader markets shouldn’t have a significant impact on the company’s survivability.

For investors looking to get into equities for the long term, the company’s upcoming delivery figures will represent a great point of analysis in deciding whether to initiate a position or wait a little longer.

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