Lucid shares jumped over 5% after Cantor Fitzgerald analyst Andres Sheppard kept a neutral rating and $8 price target, citing a new Bolt partnership for autonomous vehicle deployment.
Before the market opened on Monday, Lucid Group stock rose more than 5% following an analyst update that left the neutral recommendation unchanged. The move was linked to investor reaction to a recently announced deal.
Cantor Fitzgerald analyst Andres Sheppard issued the note, maintaining his neutral stance on Lucid and keeping his $8‑per‑share price target unchanged while highlighting the company’s agreement with rideshare firm Bolt.
The agreement, announced the prior week, expands a partnership to deploy 25,000 autonomous vehicles built by Lucid in strategic markets across Europe and the Middle East, with a longer‑term goal of 100,000 vehicles in the two regions by 2035.
The report notes that the success of the revenue stream depends on both Lucid and Bolt executing the partnership and achieving broader autonomous‑vehicle deployment, which remains uncertain.