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Barchart
Wajeeh Khan

Morgan Stanley Just Cut Lucid's Price Target By 50%. Here's Why.

Lucid Morgan Stanley LCID EV Adam Jonas Lucid Group

Lucid Group (LCID) stock closed in the red on Wednesday after senior Morgan Stanley analyst Adam Jonas reiterated his “Underweight” rating on the electric vehicle (EV) company. 

As LCID posted Q1 results that fell short of Street expectations on both the top and bottom lines, Jonas cut his price target on the automotive technology company from $10 to $5 as well. 

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