Uber Investment and Reverse Split Drive Lucid's Price Target Upward

Lucid Group, Inc. (NASDAQ:LCID) is one of the 10 Best EV Stocks to Buy According to Hedge Funds.

The company’s price target surges following a reverse split and a $300 million investment from Uber.

Lucid Group, Inc. (NASDAQ:LCID) reported its Q2 earnings results on August 5, 2025, where it highlighted a 38% year-over-year increase in vehicle deliveries. The achievement also marks the sixth consecutive quarter of record deliveries. During the quarter, Lucid Group, Inc. (NASDAQ:LCID) also announced the closing of a $300 million investment in the company by Uber Technologies, Inc. It is expected to launch its first Robotaxi later next year in a major U.S. city.

Recently, following the completion of a 1-for-10 reverse stock split and consolidating 3.07 billion outstanding shares into 307.3 million, the company saw its price target raised by Cantor Fitzgerald from $3 to $20, while the rating remains at Neutral.

The company also gains the support of the institutional investors, as the Insider Monkey database records 27 hedge funds holding stakes in Lucid Group, Inc. (NASDAQ:LCID).

Incorporated in 2007, Lucid Group, Inc. (NASDAQ:LCID) is a California-headquartered company focused on the development of luxury electric vehicles. The company is particularly known for the exceptional range and high performance of its flagship sedan, the Lucid Air.

While we acknowledge the potential of LCID as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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