Why Lucid Group (LCID) Stock Is Moving Upwards?

Sep 26 - Lucid Group LCID gained 6% on Friday morning after confirming the delivery of its first Uber-exclusive robotaxi engineering vehicle to Nuro. The vehicle will integrate with Nuro's autonomous driving system and marks the start of a three-way collaboration between Lucid, Uber Technologies UBER, and Nuro.

The partnership follows Uber's $300 million strategic investment in Lucid and includes a plan to deploy at least 20,000 Lucid Gravity SUVs equipped with Nuro's Level 4 self-driving technology for ridesharing. The rollout is expected to begin in late 2026 in a major U.S. city, with ambitions to expand globally.

Cantor Fitzgerald analyst Andres Sheppard raised his price target for Lucid to $26 from $20 while maintaining a Neutral rating. He highlighted the company's visibility in upcoming deliveries, pointing to both the Uber agreement and a separate deal with Saudi Arabia's government for up to 100,000 vehicles. Management also reaffirmed that Lucid's AMP-1 facility in Arizona has capacity for about 90,000 vehicles annually.

Moreover, Cantor Fitzgerald raised its 2026 earnings forecast for Lucid Group to a loss of $7.99 per share from $8.14, kept a Neutral rating, and set a $26 target.

The robotaxi initiative signals Lucid's effort to diversify beyond luxury EVs and positions the company to participate in the growing autonomous mobility market.