Latest news with #Legg
Business Insider
21-07-2025
- Automotive
- Business Insider
Lucid (LCID) Stock Wins a New Street-High Price Target
Lucid Group (NASDAQ:LCID) stock has taken a beating over the past few years, a reflection of the luxury EV maker's uphill battle to gain consumer traction. Sentiment has been weighed down by sluggish sales, high cash burn, and uncertainty around its long-term viability. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. That narrative took a sharp turn last Thursday, when shares jumped over 30% on news of a landmark partnership. Lucid is teaming up with Uber and autonomous vehicle startup Nuro to deploy 20,000 Gravity SUVs equipped with Nuro's self-driving system over the next six years. Underscoring the significance of this collaboration, Uber's subsidiary, SMB Holding, is also committing $300 million to Lucid through a private placement. The investment, priced based on LCID's 30-day average, will come with an 18-month lock-up, reinforcing long-term commitment. The first vehicles could hit the road as early as 2026, with final deal terms expected later this quarter. Benchmark analyst Mickey Legg didn't mince words in reacting to the announcement: 'We view the partnership as a clear strategic win, bringing in capital and two world-class partners while expanding Lucid's reach into autonomous ride-hailing.' Beyond the cash infusion, the partnership positions Lucid at the forefront of a high-growth frontier. Management views autonomous ride-hailing as a multi-trillion-dollar market opportunity, and with Uber facilitating 34 million daily trips in over 70 countries, Lucid gains immediate global exposure – without the burden of operating its own fleet. Vehicles will be owned by Uber or its partners and fully integrated into the Uber app. A working prototype is already undergoing tests at Nuro's Las Vegas site, pointing to real-world deployment on the horizon. As Legg put it, 'This initiative validates the Gravity platform, broadens Lucid's commercial strategy, and enhances monetization optionality for its proprietary technology.' In tandem with this strategic pivot, Lucid also announced a proposed 1-for-10 reverse stock split, aimed at making the stock more attractive to institutional investors. Shareholders will vote on the move on August 18. Legg called the proposal a 'prudent step,' particularly in light of recent operational progress and renewed investor interest. 'We are impressed with the progress the new management team has already enacted and look forward to further transparency regarding the path to profitability,' the analyst summed up. How High Can Lucid Stock Go? Depends on who you ask. Legg is clearly betting on a turnaround – he boosted his price target from $5 to a Street-high of $7, suggesting a potential 130% upside from current levels. Backing that view, he rates LCID shares a Buy. (To watch Legg's track record, click here) But Legg's optimism stands out in a crowd that's mostly playing it safe. While he sees upside, most analysts remain cautious. Lucid carries 8 additional Hold recommendations and 1 Sell, resulting in a consensus Hold (i.e., Neutral) rating. At $2.92, the average price target suggests the shares will remain range-bound for the foreseeable future. (See LCID stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights.
Yahoo
01-07-2025
- Automotive
- Yahoo
Veteran analyst drops jaw-dropping Tesla stock target
Veteran analyst drops jaw-dropping Tesla stock target originally appeared on TheStreet. Say what you want about Tesla () , but every move kicks off a fresh debate. Hence, it was a given that its Robotaxis would fire things up even more. And they have. 💵💰💰💵 Though the bears had plenty to say about the Robotaxis, we now see the bulls step up, betting it could spark something massive. It comes at a time when Tesla's footing in Europe is slipping, deliveries are underwhelming, and its stock trades deep in the red for the better part of the year. However, with a pat on the shoulder from some of Wall Street's finest, it could spark the kind of run Tesla stock investors have been craving. Tesla's hotly anticipated Robotaxi finally hit the streets on June 22, in a rather hush-hush, invite-only pilot in Austin, Texas. Close to a dozen Model Ys cruised through a geofenced zone, each packing a front-seat safety monitor just in videos spread like wildfire, showing relatively smooth $4.20 rides. The bulls and Tesla die-hards were quick to label it as 'the future of transport,'. Moreover, the stock popped as much as 11% a day later. Fans say Tesla's camera-only setup, which sidesteps the need for pricey lidar and radar, is the most cost-effective way to scale robotaxis for the masses. Nevertheless, the skeptics kept circling as well. Bears warned that if the pilot failed, it could significantly impact Tesla's brand equity. More importantly, the regulators didn't miss the messy bits. Clips of wrong-way turns, speeding through school zones, and sudden stops put it on the radar of the National Highway Traffic Safety Administration. At the same time, the bigger picture is far from rosy on the operational side of things for Tesla. More Tech Stock News: Circle's stock price surges after stunning CEO comment Robotaxi rivalry heats up as new cities come online Analyst reboots AMD stock price target on chip update Europe deliveries fell for a fifth consecutive month in May, down nearly 28% year-over-year, squeezed by local and Chinese rivals like BYD. Benchmark just gave Tesla a fresh shot of Wall Street love. In bumping its rating back up to 'Buy', the research firm has hiked its price target from $350 to an eye-catching $475. That represents almost a 47% increase from Tesla's Friday closing price of $ analyst Mickey Legg feels that Tesla's cautious, safety-first Robotaxi pilot in Austin is exactly what the bulls needed to see. For Legg, those Model Y rides show that Tesla's camera-only approach could help scale where LiDAR-heavy rivals can't. Additionally, with Texas's new self-driving rules on September 1, things could get a lot smoother for Robotaxis to scale up quickly. Layer in a stock that's up more than 50% off April's lows, and Benchmark feels the upside could be massive. Also, Benchmark says Tesla's got a serious shot at becoming a full-on robotics powerhouse. The firm believes that the Optimus humanoid robot and next-gen energy play are huge bets, and one that could potentially take the stock to fresh highs. On a similar note, long-time Tesla bull Wedbush's Daniel Ives says the Austin Robotaxi pilot was the opening shot in what he calls a 'golden era of autonomy.' After sampling the geofenced Model Y fleet, Ives stuck with his Outperform rating, bumping his price target to a whopping $500. In a similar vein to Legg, he feels that Tesla's camera-only system can scale in ways that rivals with pricey sensors just can't match. However, Ive's real kicker is the upside potential. If Tesla pulls off the leap, it could unlock a staggering $1 trillion new market value. That hinges on the dream of turning virtually every parked Tesla into a round-the-clock money-minting machine. Adding to the hype, Tesla confirmed that a Model Y just delivered itself from the Austin Gigafactory straight to a customer's driveway. The delivery involved no human, no remote backup, reaching as high as 72 mph on local streets and analyst drops jaw-dropping Tesla stock target first appeared on TheStreet on Jun 30, 2025 This story was originally reported by TheStreet on Jun 30, 2025, where it first appeared.
Miami Herald
30-06-2025
- Automotive
- Miami Herald
Veteran analyst drops jaw-dropping Tesla stock target
Say what you want about Tesla (TSLA) , but every move kicks off a fresh debate. Hence, it was a given that its Robotaxis would fire things up even more. And they have. Don't miss the move: Subscribe to TheStreet's free daily newsletter Though the bears had plenty to say about the Robotaxis, we now see the bulls step up, betting it could spark something massive. It comes at a time when Tesla's footing in Europe is slipping, deliveries are underwhelming, and its stock trades deep in the red for the better part of the year. However, with a pat on the shoulder from some of Wall Street's finest, it could spark the kind of run Tesla stock investors have been craving. Tesla's hotly anticipated Robotaxi finally hit the streets on June 22, in a rather hush-hush, invite-only pilot in Austin, Texas. Related: Veteran Tesla bull drops surprising 3-word verdict on robotaxi ride Close to a dozen Model Ys cruised through a geofenced zone, each packing a front-seat safety monitor just in case. Early videos spread like wildfire, showing relatively smooth $4.20 rides. The bulls and Tesla die-hards were quick to label it as "the future of transport,". Moreover, the stock popped as much as 11% a day later. Fans say Tesla's camera-only setup, which sidesteps the need for pricey lidar and radar, is the most cost-effective way to scale robotaxis for the masses. Nevertheless, the skeptics kept circling as well. Bears warned that if the pilot failed, it could significantly impact Tesla's brand equity. More importantly, the regulators didn't miss the messy bits. Clips of wrong-way turns, speeding through school zones, and sudden stops put it on the radar of the National Highway Traffic Safety Administration. At the same time, the bigger picture is far from rosy on the operational side of things for Tesla. More Tech Stock News: Circle's stock price surges after stunning CEO commentRobotaxi rivalry heats up as new cities come onlineAnalyst reboots AMD stock price target on chip update Europe deliveries fell for a fifth consecutive month in May, down nearly 28% year-over-year, squeezed by local and Chinese rivals like BYD. Benchmark just gave Tesla a fresh shot of Wall Street love. In bumping its rating back up to "Buy", the research firm has hiked its price target from $350 to an eye-catching $475. That represents almost a 47% increase from Tesla's Friday closing price of $323.79. Related: Veteran analyst drops bold new call on Nvidia stock Benchmark analyst Mickey Legg feels that Tesla's cautious, safety-first Robotaxi pilot in Austin is exactly what the bulls needed to see. For Legg, those Model Y rides show that Tesla's camera-only approach could help scale where LiDAR-heavy rivals can't. Additionally, with Texas's new self-driving rules on September 1, things could get a lot smoother for Robotaxis to scale up quickly. Layer in a stock that's up more than 50% off April's lows, and Benchmark feels the upside could be massive. Also, Benchmark says Tesla's got a serious shot at becoming a full-on robotics powerhouse. The firm believes that the Optimus humanoid robot and next-gen energy play are huge bets, and one that could potentially take the stock to fresh highs. On a similar note, long-time Tesla bull Wedbush's Daniel Ives says the Austin Robotaxi pilot was the opening shot in what he calls a "golden era of autonomy." After sampling the geofenced Model Y fleet, Ives stuck with his Outperform rating, bumping his price target to a whopping $500. In a similar vein to Legg, he feels that Tesla's camera-only system can scale in ways that rivals with pricey sensors just can't match. However, Ive's real kicker is the upside potential. If Tesla pulls off the leap, it could unlock a staggering $1 trillion new market value. That hinges on the dream of turning virtually every parked Tesla into a round-the-clock money-minting machine. Adding to the hype, Tesla confirmed that a Model Y just delivered itself from the Austin Gigafactory straight to a customer's driveway. The delivery involved no human, no remote backup, reaching as high as 72 mph on local streets and highways. Related: Veteran Tesla analyst makes boldest robotaxi call yet The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Business Insider
28-06-2025
- Automotive
- Business Insider
Benchmark Reaffirms Tesla (TSLA) Stock as ‘Top Pick,' Hikes Price Target on Robotaxi Optimism
Impressed with Tesla's (TSLA) robotaxi launch, Benchmark boosted the price target for the electric vehicle (EV) maker to $475 from $350 while maintaining a Buy rating. Also, Benchmark reaffirmed its 'Top Pick' status on TSLA stock, noting the 'successful launch' of the company's robotaxi service in Austin. The new price target indicates about a 46% upside potential from current levels and is based on a valuation of 53.9x 2028 EBITDA estimate, reflecting a premium to tech peers trading at 27.1x. Confident Investing Starts Here: TSLA stock is down more than 19% year-to-date due to concerns over weak demand amid intense competition and macroeconomic challenges. Benchmark Analyst Is Optimistic About Tesla's Robotaxi Benchmark analyst Michael Legg believes that while limited, Tesla's robotaxi launch in Austin reflected 'a controlled and safety-first approach.' The 4-star analyst added that impressing regulators and gaining a favorable public opinion are crucial, as they will enable the company to rapidly scale up its robotaxi service. Legg noted that new regulations for autonomous vehicles (AVs) are scheduled to take effect on September 1 in Texas, which he believes will further help win trust and drive expansion to additional cities. Legg contended that while Alphabet's (GOOGL) Waymo has a lead in the autonomous ride-hailing market, with operations in four cities and around 250,000 weekly rides, Tesla's approach is more scalable. He also pointed out the higher cost of Waymo's vehicles compared to Tesla's Model Y. The analyst highlighted that Tesla ended Q1 2025 with $37 billion in cash and generated over $600 million in free cash flow, which establishes that the EV maker has 'plenty of fresh powder' to invest in growth opportunities. Overall, Legg is bullish on Tesla's prospects and thinks that the Elon Musk-led company is 'undergoing an evolution from a trailblazing vehicle OEM [original equipment manufacturer] to a high-tech automation and robotics company with unmatched domestic manufacturing scale.' Expectations from Tesla's Q2 Deliveries Several Wall Street analysts have recently expressed concerns about Tesla missing Q2 deliveries expectations. However, Legg believes that the expected decline in TSLA's Q2 deliveries is priced into the stock. He added that a rebound is expected in the second half of 2025. Meanwhile, RBC Capital analyst Tom Narayan expects Tesla to deliver 366,000 vehicles in Q2, below the FactSet consensus of around 390,000 EVs. The 4-star analyst expects Q2 deliveries to increase sequentially due to the availability of the refreshed Model Y and plants operating at greater capacity. Narayan has a Buy rating on Tesla stock with a price target of $307. Is Tesla Stock a Buy or Sell? Wall Street has a Hold consensus rating on Tesla stock based on 14 Buys, 12 Holds, and nine Sell recommendations. The average TSLA stock price target of $291.31 indicates 10.6% downside risk from current levels.
CNBC
26-06-2025
- Automotive
- CNBC
Tesla can rally 45% thanks to its leg up over competitor Waymo, says Benchmark
The time has come to go all in on Tesla , according to Benchmark Equity Research. In a Thursday note, Benchmark analyst Mickey Legg raised his price target for the electric vehicle maker to $475 per share from $350, citing Tesla's recent robotaxi launch as a catalyst. That forecast implies upside of 45%. Tesla began offering its robotaxi service on Sunday to a select group of early-access individuals in Austin, Texas. "While limited, we believe the controlled rollout demonstrates a controlled and safety-first approach," Legg wrote. "Winning over regulators and public opinion is paramount and will allow a rapid scale up if achieved, in our opinion. New regulations for autonomous vehicles are set to go into place on Sept. 1 in TX that we believe will further help win trust and pave the way for expansion to additional cities." TSLA YTD mountain TSLA YTD chart The analyst added that Tesla has a better value proposition than Waymo, its main competitor in autonomous vehicles. Legg believes that Tesla's more cost-effective and scalable camera-focused approach could beat out Waymo — despite the latter's first-mover advantage. "The average cost of a Waymo is over six-figures, well over the cost to produce a Model Y," the analyst wrote. Tesla's balance sheet also looks healthy and balanced, with the excess free cash flow it has produced in recent quarters "providing plenty of fresh powder to fund growth opportunities down the road," Legg said. Legg added analysts have already priced in a year-over-year decline in second-quarter deliveries, which Tesla is expected to report next week. "Growth ahead remains in the form of expanding the robotaxi business, model refreshes, and Optimus robots, long-term," the analyst said. "In our view the company is undergoing an evolution from a trailblazing vehicle OEM to a high-tech automation and robotics company with unmatched domestic manufacturing scale."
