Lucid Group Inc: Clearing the Air on Strategic Options

研报英文原文证据摘录

Lucid Group Inc: Clearing the Air on Strategic Options

Update

July 15, 2026 10:10 AM GMT

Morgan Stanley & Co. LLCMLucid Group Inc | North America Andrew S Percoco

Equity Analyst

Clearing the Air on Strategic Andrew.Percoco@morganstanley.comDaniela M Haigian +1 212 296-4322

Daniela.Haigian@morganstanley.com +1 212 761-6071

Options Jahvonte G Bain

Research Associate

Jahvonte.Bain@morganstanley.com +1 212 761-9231

What happened? Lucid shares fell as much as ~50% today, following a report that

Katherine A Bennorth

the company was evaluating strategic alternatives, including a potential take-private Research Associate

or Chapter 11 filing. However, the stock pared losses closing down 16% after Lucid Katie.A.Bennorth@morganstanley.com +1 212 761-3753

issued a statement denying these rumors. Lucid Group Inc (LCID.O, LCID US)

Autos & Shared Mobility | United States of America

Our take: While Lucid has denied many of the claims in the article, we believe some

Stock Rating Underweight

of the strategic recommendations – such as de-emphasizing Europe and Air sedan – Industry View In-Line

make sense, since the company likely needs to remain in capital-preservation mode Price target $5.00

Shr price, close (Jul 14, 2026) $4.62

ahead of the midsize launch. As discussed in more detail below, we believe that Mkt cap, curr (mm) $1,502

Lucid will need to raise significant capital in the interim to fund the midsize ramp, 52-Week Range $33.70-2.37

but refrain from commenting on any hypothetical Chapter 11 or take-private

proceedings at this time.

According to unnamed sources, Lucid has retained AlixPartners as an outside adviser

– a relationship the company has since confirmed – with the firm reportedly set to

present its findings to Lucid’s board ahead of its next meeting.