Citi analyst Michael Ward lowered the firm's price target on Lucid Group to $14 from $17 and keeps a Buy rating on the shares. The company reported a Q1 miss and pulled its 2026 outlook, the analyst tells investors in a research note. However, Citi believes Lucid's medium term plans are intact, and sees inflection points into 2027 with production starting at the new Saudi production plant and decline in capital spending.
