Lucid Group initiated with a Hold at TD Cowen

TD Cowen initiated coverage of Lucid Group (LCID) with a Hold rating and $2.30 price target While the Gravity launch “can be a turning point for the company,” the starting price near $95,000 “strikes us as too high” to ensure a robust enough volume ramp and if Gravity doesn’t demonstrate early volume momentum, the stock will “likely struggle to work,” the analyst tells investors.