Tesla Stock Is Rising. EV Battery Supplier CATL Soars After Upgrade.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 11 2024
0mins
Source: MarketWatch
- Tesla Stock Performance: Tesla stock was rising in early trading on Monday, showing a positive start to the week.
- Market Comparison: While Tesla's shares were up 0.7% in premarket trading, futures on the S&P 500 and Nasdaq Composite were down by 0.2%.
- CATL Stock Movement: The rise in Tesla's stock coincided with movements in China's Contemporary Amperex Technology (CATL) stock.
- Overall Market Trends: The market showed mixed movements with different sectors experiencing varying changes.
- Investor Sentiment: The positive performance of Tesla's stock could reflect investor optimism or specific factors influencing the company's valuation.
Analyst Views on LCID
Wall Street analysts forecast LCID stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for LCID is 16.73 USD with a low forecast of 10.00 USD and a high forecast of 30.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
1 Buy
8 Hold
3 Sell
Hold
Current: 11.470
Low
10.00
Averages
16.73
High
30.00
Current: 11.470
Low
10.00
Averages
16.73
High
30.00
About LCID
Lucid Group, Inc. is a technology company, which designs, engineers, and manufactures electric vehicles (EVs), EV powertrains, and battery systems in-house using its own equipment and factories. It sells vehicles directly to consumers through its retail sales network and through direct online sales. Its vehicles include Lucid Air and Lucid Gravity. Lucid Air is an advanced car, featuring powertrain technology. It offers 420 miles of the United States Environmental Protection Agency (EPA)-estimated range, with an 84-kWh battery pack. The Lucid Air Sapphire is the highest-performance version of the Lucid Air, boasting 1,234 horsepower from three motors, 427 miles of an EPA-estimated range (when equipped with standard wheel covers). The Lucid Gravity provides the interior space and practicality of a full-size SUV within the exterior footprint of a mid-size SUV. It provides space for up to seven adults. It has engineered the Lucid Gravity to deliver up to 450 miles of EPA-estimated range.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
