{"id":47519,"date":"2023-08-12T05:07:48","date_gmt":"2023-08-12T09:07:48","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/buy-rivian-stock-sell-lucid-says-broker-both-stocks-are-down\/"},"modified":"2023-08-12T05:07:50","modified_gmt":"2023-08-12T09:07:50","slug":"buy-rivian-stock-sell-lucid-says-broker-both-stocks-are-down","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=47519","title":{"rendered":"Buy Rivian Stock, Sell Lucid, Says Broker. Both Stocks Are Down."},"content":{"rendered":"
\n
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<\/p>\n
<\/div>\n<\/figure><\/div>\n

A downgrade is pushing down shares of electric-vehicle start-up
\n Lucid Group,<\/span>
\n but an upgrade from the same broker isn\u2019t helping Lucid peer
\n Rivian Automotive.<\/span>\n <\/p>\n

Friday, Exane BNP Paribas analyst James Picariello downgraded Lucid stock (ticker: LCID) to Sell from Hold. His price target went to $5 from $6.50. He also upgraded shares of Rivian stock (RIVN) to Buy from Hold, and raised his target price to $30 from $24. <\/p>\n

\n

Exane declined to send Barron\u2019s<\/em> a copy of the report. <\/p>\n

Lucid stock is taking a hit, down 3% in midday trading at $6.58 a share. Rivian stock is also down, 1.3% in the red a $21.62, while the
\n S&P 500
\n and
\n Nasdaq Composite
\n are off 0.3% and 0.7%, respectively. <\/p>\n

Piccariello\u2019s views appear to align with the rest of the Street. Only 31% of analysts covering Lucid stock have Buy ratings. The average Buy-rating ratio for stocks in the S&P 500 is about 55%. A downgrade to Sell from Hold doesn\u2019t change the Buy-rating ratio. It changes the Sell-rating ratio, though. About 23% of analysts covering Lucid stock rate shares at Sell. The average Sell-rating ratio for stocks in the S&P 500 is about 6%. The average analyst target price is about $775 a share, up about 18% from recent trading levels. <\/p>\n

About 58% of the analysts covering Rivian stock have Buy ratings. The average analyst target price is about $27.50 a share, roughly 25% higher than recent levels. <\/p>\n

Recent production and delivery performance could be reasons for the ratings changes.<\/p>\n

Lucid delivered 1,404 vehicles in the second quarter of 2023, down from 1,406 deliveries in the first quarter. The company plans to make 10,000 units in 2023. <\/p>\n

Rivian delivered 12,640 vehicles in the second quarter, up from 7,946 in the first quarter. The company plans to make more than 50,000 units in 2023. <\/p>\n

Despite those differences, Lucid and Rivian are worth roughly the same amounts. Lucid\u2019s market value, measured by stock capitalization, debt less cash on hand, is about $12 billion. Rivian\u2019s is $13 billion.<\/p>\n

At Picariello\u2019s prices, Rivian would be worth roughly $18 billion and Lucid about $9 billion. <\/p>\n

Write to Al Root at allen.root@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A downgrade is pushing down shares of electric-vehicle start-up Lucid Group, but an upgrade from the same broker isn\u2019t helping Lucid peer Rivian Automotive. Friday, Exane BNP Paribas analyst James Picariello downgraded Lucid stock (ticker: LCID) to Sell from Hold. His price target went to $5 from $6.50. He also upgraded shares of Rivian stock […]<\/p>\n","protected":false},"author":1,"featured_media":47520,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-47519","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBuy Rivian Stock, Sell Lucid, Says Broker. Both Stocks Are Down. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"A downgrade is pushing down shares of electric-vehicle start-up Lucid Group, but an upgrade from the same broker isn\u2019t helping Lucid peer Rivian\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=47519\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buy Rivian Stock, Sell Lucid, Says Broker. 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