Financial Advisers News
Tuesday, January 31, 2023
  • Market Overview
    Most Adani shares continue losses; founder loses $28 billion in month

    Most Adani shares continue losses; founder loses $28 billion in month

    Russia-Ukraine war updates for Nov.30, 2022

    Russia-Ukraine war updates for Nov.30, 2022

    Bret Taylor steps down as Salesforce co-CEO, Marc Benioff stays as CEO

    Bret Taylor steps down as Salesforce co-CEO, Marc Benioff stays as CEO

    Young disgruntled workers are flocking to Reddit. Here’s why

    Young disgruntled workers are flocking to Reddit. Here’s why

    FTX CEO Sam Bankman-Fried denies crypto exchange fraud

    U.S. appeals court rejects Biden’s bid to reinstate student debt plan

    U.S. appeals court rejects Biden’s bid to reinstate student debt plan

    Trenches, endless mud and death: the Battle of Bakhmut

    Trenches, endless mud and death: the Battle of Bakhmut

    Stock futures tick higher after Wednesday’s rally

    Stock futures tick higher after Wednesday’s rally

    MARKET LIVE: Sensex off 300pts from high, Nifty holds 18,800; ICICI slips

    MARKET LIVE: Sensex off 300pts from high, Nifty holds 18,800; ICICI slips

  • Stock Markets
    Ryanair sees “robust” travel demand over Easter, summer holidays By Investing.com

    Ryanair sees “robust” travel demand over Easter, summer holidays By Investing.com

    Marriott International: Cozy Fundamentals With A Costly Stock (NASDAQ:MAR)

    Marriott International: Cozy Fundamentals With A Costly Stock (NASDAQ:MAR)

    Coppock Curve: Who Says ‘You Can’t Time The Market’?

    Coppock Curve: Who Says ‘You Can’t Time The Market’?

    Rondure Global Advisors Q3 2022 Commentary

    Rondure Global Advisors Q3 2022 Commentary

    Adobe Stock: Buy The Dip In This Excellent Compounder (NASDAQ:ADBE)

    Adobe Stock: Buy The Dip In This Excellent Compounder (NASDAQ:ADBE)

    Macro Headwinds To Keep Pressure On Copper Prices

    Macro Headwinds To Keep Pressure On Copper Prices

    U.S. CFTC chair to be questioned over FTX collapse by lawmakers By Reuters

    Meta executive says holiday sales were earlier and bigger this year By Reuters

    Investors with $30 trln to push companies on human rights, social issues By Reuters

    Investors with $30 trln to push companies on human rights, social issues By Reuters

    Exclusive-U.S. Chamber of Commerce warns against draft EU plan to exclude non-EU cloud vendors By Reuters

    Exclusive-U.S. Chamber of Commerce warns against draft EU plan to exclude non-EU cloud vendors By Reuters

  • Analysis Forex
    Pension Investments in Private Credit Hit Eight-Year High

    Pension Investments in Private Credit Hit Eight-Year High

    Most Viewed Business News Articles, Top News Articles

    Most Viewed Business News Articles, Top News Articles

    stock recommendations: Hot Stocks: Gland Pharma, Mirza International and Agro Tech Foods could give 19-30% return

    stock recommendations: Hot Stocks: Gland Pharma, Mirza International and Agro Tech Foods could give 19-30% return

    tata play ipo: Tata Play becomes first firm to file confidential papers with Sebi for IPO

    tata play ipo: Tata Play becomes first firm to file confidential papers with Sebi for IPO

    Fundamental Radar: 6 reasons why TCI Express could rally 20% in next 12 months

    Fundamental Radar: 6 reasons why TCI Express could rally 20% in next 12 months

    Inequality in Society Drives Stock-Market Performance

    Inequality in Society Drives Stock-Market Performance

    Being a Cheap Date Is Suddenly a Major Plus

    Being a Cheap Date Is Suddenly a Major Plus

    Car Makers Face Bumpier Road in China

    Car Makers Face Bumpier Road in China

    Meet Kevin, the ETF – WSJ

    Meet Kevin, the ETF – WSJ

  • Economy
    Goldilocks and the three bears By Reuters

    Goldilocks and the three bears By Reuters

    U.S. Inflation Reduction Act ‘super aggressive,’ Macron tells lawmakers By Reuters

    U.S. Inflation Reduction Act ‘super aggressive,’ Macron tells lawmakers By Reuters

    Indonesia November inflation cools further but stays above target By Reuters

    U.S. appeals court rejects Biden’s bid to revive student debt plan By Reuters

    Thai central bank raises key interest rate by 25 bps to 1.25% By Reuters

    IMF strategy chief heads to China, to focus on speeding up debt treatments By Reuters

    Asian FX bulls loom on signs of slowing Fed rate hikes, China reopening: Reuters poll By Reuters

    European shares jump on Powell’s speech, China relief By Reuters

    Thai central bank raises key interest rate by 25 bps to 1.25% By Reuters

    Philippines central bank ready to adjust policy settings amid resilient economy By Reuters

    China factory, services activities slide to 7-month lows on COVID curbs By Reuters

    Zambia on track for debt restructuring next quarter -finance minister By Reuters

    Dollar slips from one-week high on China hopes as Powell speech looms By Reuters

    At state visit, Biden and Macron face dispute over American subsidies By Reuters

    Dollar slips from one-week high on China hopes as Powell speech looms By Reuters

    RBI seen raising rates by smaller 35bps in Dec, hiking again in early 2023: Reuters poll By Reuters

  • Cryptocurrency
    Secret Network validator shuts down nodes after leadership turmoil By Cointelegraph

    Secret Network validator shuts down nodes after leadership turmoil By Cointelegraph

    Digital identity platform integrates with zkSync for on-chain KYC By Cointelegraph

    Over 3,000 New UNI Addresses Following NFT Aggregator Launch By CoinEdition

    Legal professionals astonished as SBF admits failures, apologizes 12 times in interview

    Legal professionals astonished as SBF admits failures, apologizes 12 times in interview

    Meta ‘powering through’ with Metaverse plans despite doubts — Zuckerberg

    Meta ‘powering through’ with Metaverse plans despite doubts — Zuckerberg

    Sam Bankman-Fried confronted over the fall of FTX in live interview By Cointelegraph

    Sam Bankman-Fried confronted over the fall of FTX in live interview By Cointelegraph

    EmpiresX ‘head trader’ to face 4 years of prison over $100M crypto ‘Ponzi’ By Cointelegraph

    EmpiresX ‘head trader’ to face 4 years of prison over $100M crypto ‘Ponzi’ By Cointelegraph

    FTX Token caused downfall, but tech still revolutionary By Cointelegraph

    Porsche 911 NFTs, BMW files Web3 trademarks, Baby Shark’s NFT game and more… By Cointelegraph

    Digital identity platform integrates with zkSync for on-chain KYC By Cointelegraph

    Digital identity platform integrates with zkSync for on-chain KYC By Cointelegraph

    U.S. CFTC chair to be questioned over FTX collapse by lawmakers By Reuters

    U.S. CFTC chair to be questioned over FTX collapse by lawmakers By Reuters

  • Forex
    Chinese yuan leads Asia FX higher in anticipation of Fed meeting By Investing.com

    Chinese yuan leads Asia FX higher in anticipation of Fed meeting By Investing.com

    Dollar slumps on Powell’s comments; Yen benefits the most By Investing.com

    Dollar slumps on Powell’s comments; Yen benefits the most By Investing.com

    S&P 500 Breaks Tight Range and Overtakes 200-Day Moving Average, Inflation and NFPs Ahead

    S&P 500 Breaks Tight Range and Overtakes 200-Day Moving Average, Inflation and NFPs Ahead

    Japanese Yen Leaps as US Dollar Sinks Post Powell. Is the Peak in Place for USD/JPY?

    Japanese Yen Leaps as US Dollar Sinks Post Powell. Is the Peak in Place for USD/JPY?

    Aussie Feeds Off Risk-On Sentiment Fueled by China and Fed

    Aussie Feeds Off Risk-On Sentiment Fueled by China and Fed

    Dollar slips lower; Powell speech, GDP data due By Investing.com

    Dollar slips lower; Powell speech, GDP data due By Investing.com

    EUR/USD ignores positive inflation surprise ahead of busy U.S. schedule By Investing.com

    EUR/USD ignores positive inflation surprise ahead of busy U.S. schedule By Investing.com

    Swiss inflation steady at 3.0% in November as expected By Reuters

    Euro sags against sterling after euro zone inflation cools By Reuters

    Asia FX rallies, dollar sinks as Powell touts tepid rate hikes By Investing.com

    Asia FX rallies, dollar sinks as Powell touts tepid rate hikes By Investing.com

  • Commodities
    Oil falls ahead of OPEC+, U.S. Federal Reserve meetings By Reuters

    Oil falls ahead of OPEC+, U.S. Federal Reserve meetings By Reuters

    Coterra Energy to pay $16.29 million for Pennsylvania water contamination plea By Reuters

    Coterra Energy to pay $16.29 million for Pennsylvania water contamination plea By Reuters

    European Gas Jumps as Lower Temperatures Set to Increase Demand By Bloomberg

    European Gas Jumps as Lower Temperatures Set to Increase Demand By Bloomberg

    Exclusive: China to allow home quarantine for some infected with COVID

    EU defends gas price cap proposal after country criticism By Reuters

    OPEC oil output drops in November after cut pledged -survey By Reuters

    OPEC oil output drops in November after cut pledged -survey By Reuters

    Oil up nearly 3% on jumbo U.S. crude draw as reserves use plummets   By Investing.com

    Oil up nearly 3% on jumbo U.S. crude draw as reserves use plummets   By Investing.com

    Gold hits over 3-month high as Powell flags slower rate hikes By Investing.com

    Gold hits over 3-month high as Powell flags slower rate hikes By Investing.com

    Oil rally stalls on weak Chinese data, uncertainty over OPEC cut By Investing.com

    Oil rally stalls on weak Chinese data, uncertainty over OPEC cut By Investing.com

    Europe wary of Turkish hub to hide gas ‘made in Moscow’ By Reuters

    Europe wary of Turkish hub to hide gas ‘made in Moscow’ By Reuters

  • Bonds
  • More
    • Analysis Cryptocurrency
    • Economic Indicators
      Spain’s 12-month inflation rate inched up to 5.8% in January By Reuters

      Spain’s 12-month inflation rate inched up to 5.8% in January By Reuters

      Investors need a different playbook for 2023

      Investors need a different playbook for 2023

      Fed hints at less aggressive rate increase

      Fed hints at less aggressive rate increase

      FirstFT: EU and US turn up the heat on Elon Musk

      FirstFT: EU and US turn up the heat on Elon Musk

      Jay Powell is no dove

      Jay Powell is no dove

      Emerging market stocks and bonds stage powerful rebound rally

      Emerging market stocks and bonds stage powerful rebound rally

      Thai central bank raises key interest rate by 25 bps to 1.25% By Reuters

      India’s jobless rate rises to three-month high of 8% in Nov

      Asian FX bulls loom on signs of slowing Fed rate hikes, China reopening: Reuters poll By Reuters

      India Nov factory activity hits 3-month high as inflation cools By Reuters

      Dollar slips from one-week high on China hopes as Powell speech looms By Reuters

      German retail sales fall in October as inflation takes hold By Reuters

    • Analysis Stock Markets
    • Crypto News
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  • Market Overview
    Most Adani shares continue losses; founder loses $28 billion in month

    Most Adani shares continue losses; founder loses $28 billion in month

    Russia-Ukraine war updates for Nov.30, 2022

    Russia-Ukraine war updates for Nov.30, 2022

    Bret Taylor steps down as Salesforce co-CEO, Marc Benioff stays as CEO

    Bret Taylor steps down as Salesforce co-CEO, Marc Benioff stays as CEO

    Young disgruntled workers are flocking to Reddit. Here’s why

    Young disgruntled workers are flocking to Reddit. Here’s why

    FTX CEO Sam Bankman-Fried denies crypto exchange fraud

    U.S. appeals court rejects Biden’s bid to reinstate student debt plan

    U.S. appeals court rejects Biden’s bid to reinstate student debt plan

    Trenches, endless mud and death: the Battle of Bakhmut

    Trenches, endless mud and death: the Battle of Bakhmut

    Stock futures tick higher after Wednesday’s rally

    Stock futures tick higher after Wednesday’s rally

    MARKET LIVE: Sensex off 300pts from high, Nifty holds 18,800; ICICI slips

    MARKET LIVE: Sensex off 300pts from high, Nifty holds 18,800; ICICI slips

  • Stock Markets
    Ryanair sees “robust” travel demand over Easter, summer holidays By Investing.com

    Ryanair sees “robust” travel demand over Easter, summer holidays By Investing.com

    Marriott International: Cozy Fundamentals With A Costly Stock (NASDAQ:MAR)

    Marriott International: Cozy Fundamentals With A Costly Stock (NASDAQ:MAR)

    Coppock Curve: Who Says ‘You Can’t Time The Market’?

    Coppock Curve: Who Says ‘You Can’t Time The Market’?

    Rondure Global Advisors Q3 2022 Commentary

    Rondure Global Advisors Q3 2022 Commentary

    Adobe Stock: Buy The Dip In This Excellent Compounder (NASDAQ:ADBE)

    Adobe Stock: Buy The Dip In This Excellent Compounder (NASDAQ:ADBE)

    Macro Headwinds To Keep Pressure On Copper Prices

    Macro Headwinds To Keep Pressure On Copper Prices

    U.S. CFTC chair to be questioned over FTX collapse by lawmakers By Reuters

    Meta executive says holiday sales were earlier and bigger this year By Reuters

    Investors with $30 trln to push companies on human rights, social issues By Reuters

    Investors with $30 trln to push companies on human rights, social issues By Reuters

    Exclusive-U.S. Chamber of Commerce warns against draft EU plan to exclude non-EU cloud vendors By Reuters

    Exclusive-U.S. Chamber of Commerce warns against draft EU plan to exclude non-EU cloud vendors By Reuters

  • Analysis Forex
    Pension Investments in Private Credit Hit Eight-Year High

    Pension Investments in Private Credit Hit Eight-Year High

    Most Viewed Business News Articles, Top News Articles

    Most Viewed Business News Articles, Top News Articles

    stock recommendations: Hot Stocks: Gland Pharma, Mirza International and Agro Tech Foods could give 19-30% return

    stock recommendations: Hot Stocks: Gland Pharma, Mirza International and Agro Tech Foods could give 19-30% return

    tata play ipo: Tata Play becomes first firm to file confidential papers with Sebi for IPO

    tata play ipo: Tata Play becomes first firm to file confidential papers with Sebi for IPO

    Fundamental Radar: 6 reasons why TCI Express could rally 20% in next 12 months

    Fundamental Radar: 6 reasons why TCI Express could rally 20% in next 12 months

    Inequality in Society Drives Stock-Market Performance

    Inequality in Society Drives Stock-Market Performance

    Being a Cheap Date Is Suddenly a Major Plus

    Being a Cheap Date Is Suddenly a Major Plus

    Car Makers Face Bumpier Road in China

    Car Makers Face Bumpier Road in China

    Meet Kevin, the ETF – WSJ

    Meet Kevin, the ETF – WSJ

  • Economy
    Goldilocks and the three bears By Reuters

    Goldilocks and the three bears By Reuters

    U.S. Inflation Reduction Act ‘super aggressive,’ Macron tells lawmakers By Reuters

    U.S. Inflation Reduction Act ‘super aggressive,’ Macron tells lawmakers By Reuters

    Indonesia November inflation cools further but stays above target By Reuters

    U.S. appeals court rejects Biden’s bid to revive student debt plan By Reuters

    Thai central bank raises key interest rate by 25 bps to 1.25% By Reuters

    IMF strategy chief heads to China, to focus on speeding up debt treatments By Reuters

    Asian FX bulls loom on signs of slowing Fed rate hikes, China reopening: Reuters poll By Reuters

    European shares jump on Powell’s speech, China relief By Reuters

    Thai central bank raises key interest rate by 25 bps to 1.25% By Reuters

    Philippines central bank ready to adjust policy settings amid resilient economy By Reuters

    China factory, services activities slide to 7-month lows on COVID curbs By Reuters

    Zambia on track for debt restructuring next quarter -finance minister By Reuters

    Dollar slips from one-week high on China hopes as Powell speech looms By Reuters

    At state visit, Biden and Macron face dispute over American subsidies By Reuters

    Dollar slips from one-week high on China hopes as Powell speech looms By Reuters

    RBI seen raising rates by smaller 35bps in Dec, hiking again in early 2023: Reuters poll By Reuters

  • Cryptocurrency
    Secret Network validator shuts down nodes after leadership turmoil By Cointelegraph

    Secret Network validator shuts down nodes after leadership turmoil By Cointelegraph

    Digital identity platform integrates with zkSync for on-chain KYC By Cointelegraph

    Over 3,000 New UNI Addresses Following NFT Aggregator Launch By CoinEdition

    Legal professionals astonished as SBF admits failures, apologizes 12 times in interview

    Legal professionals astonished as SBF admits failures, apologizes 12 times in interview

    Meta ‘powering through’ with Metaverse plans despite doubts — Zuckerberg

    Meta ‘powering through’ with Metaverse plans despite doubts — Zuckerberg

    Sam Bankman-Fried confronted over the fall of FTX in live interview By Cointelegraph

    Sam Bankman-Fried confronted over the fall of FTX in live interview By Cointelegraph

    EmpiresX ‘head trader’ to face 4 years of prison over $100M crypto ‘Ponzi’ By Cointelegraph

    EmpiresX ‘head trader’ to face 4 years of prison over $100M crypto ‘Ponzi’ By Cointelegraph

    FTX Token caused downfall, but tech still revolutionary By Cointelegraph

    Porsche 911 NFTs, BMW files Web3 trademarks, Baby Shark’s NFT game and more… By Cointelegraph

    Digital identity platform integrates with zkSync for on-chain KYC By Cointelegraph

    Digital identity platform integrates with zkSync for on-chain KYC By Cointelegraph

    U.S. CFTC chair to be questioned over FTX collapse by lawmakers By Reuters

    U.S. CFTC chair to be questioned over FTX collapse by lawmakers By Reuters

  • Forex
    Chinese yuan leads Asia FX higher in anticipation of Fed meeting By Investing.com

    Chinese yuan leads Asia FX higher in anticipation of Fed meeting By Investing.com

    Dollar slumps on Powell’s comments; Yen benefits the most By Investing.com

    Dollar slumps on Powell’s comments; Yen benefits the most By Investing.com

    S&P 500 Breaks Tight Range and Overtakes 200-Day Moving Average, Inflation and NFPs Ahead

    S&P 500 Breaks Tight Range and Overtakes 200-Day Moving Average, Inflation and NFPs Ahead

    Japanese Yen Leaps as US Dollar Sinks Post Powell. Is the Peak in Place for USD/JPY?

    Japanese Yen Leaps as US Dollar Sinks Post Powell. Is the Peak in Place for USD/JPY?

    Aussie Feeds Off Risk-On Sentiment Fueled by China and Fed

    Aussie Feeds Off Risk-On Sentiment Fueled by China and Fed

    Dollar slips lower; Powell speech, GDP data due By Investing.com

    Dollar slips lower; Powell speech, GDP data due By Investing.com

    EUR/USD ignores positive inflation surprise ahead of busy U.S. schedule By Investing.com

    EUR/USD ignores positive inflation surprise ahead of busy U.S. schedule By Investing.com

    Swiss inflation steady at 3.0% in November as expected By Reuters

    Euro sags against sterling after euro zone inflation cools By Reuters

    Asia FX rallies, dollar sinks as Powell touts tepid rate hikes By Investing.com

    Asia FX rallies, dollar sinks as Powell touts tepid rate hikes By Investing.com

  • Commodities
    Oil falls ahead of OPEC+, U.S. Federal Reserve meetings By Reuters

    Oil falls ahead of OPEC+, U.S. Federal Reserve meetings By Reuters

    Coterra Energy to pay $16.29 million for Pennsylvania water contamination plea By Reuters

    Coterra Energy to pay $16.29 million for Pennsylvania water contamination plea By Reuters

    European Gas Jumps as Lower Temperatures Set to Increase Demand By Bloomberg

    European Gas Jumps as Lower Temperatures Set to Increase Demand By Bloomberg

    Exclusive: China to allow home quarantine for some infected with COVID

    EU defends gas price cap proposal after country criticism By Reuters

    OPEC oil output drops in November after cut pledged -survey By Reuters

    OPEC oil output drops in November after cut pledged -survey By Reuters

    Oil up nearly 3% on jumbo U.S. crude draw as reserves use plummets   By Investing.com

    Oil up nearly 3% on jumbo U.S. crude draw as reserves use plummets   By Investing.com

    Gold hits over 3-month high as Powell flags slower rate hikes By Investing.com

    Gold hits over 3-month high as Powell flags slower rate hikes By Investing.com

    Oil rally stalls on weak Chinese data, uncertainty over OPEC cut By Investing.com

    Oil rally stalls on weak Chinese data, uncertainty over OPEC cut By Investing.com

    Europe wary of Turkish hub to hide gas ‘made in Moscow’ By Reuters

    Europe wary of Turkish hub to hide gas ‘made in Moscow’ By Reuters

  • Bonds
  • More
    • Analysis Cryptocurrency
    • Economic Indicators
      Spain’s 12-month inflation rate inched up to 5.8% in January By Reuters

      Spain’s 12-month inflation rate inched up to 5.8% in January By Reuters

      Investors need a different playbook for 2023

      Investors need a different playbook for 2023

      Fed hints at less aggressive rate increase

      Fed hints at less aggressive rate increase

      FirstFT: EU and US turn up the heat on Elon Musk

      FirstFT: EU and US turn up the heat on Elon Musk

      Jay Powell is no dove

      Jay Powell is no dove

      Emerging market stocks and bonds stage powerful rebound rally

      Emerging market stocks and bonds stage powerful rebound rally

      Thai central bank raises key interest rate by 25 bps to 1.25% By Reuters

      India’s jobless rate rises to three-month high of 8% in Nov

      Asian FX bulls loom on signs of slowing Fed rate hikes, China reopening: Reuters poll By Reuters

      India Nov factory activity hits 3-month high as inflation cools By Reuters

      Dollar slips from one-week high on China hopes as Powell speech looms By Reuters

      German retail sales fall in October as inflation takes hold By Reuters

    • Analysis Stock Markets
    • Crypto News
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Home Bonds

How to play the beaten-up EV stocks from here — Evercore ISI sees one doubling next year

December 1, 2022
in Bonds
How to play the beaten-up EV stocks from here — Evercore ISI sees one doubling next year
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Electric vehicle stocks have had a tough year, but don’t count them out just yet, according to Evercore ISI. Analyst Chris McNally said the past year has been a much-needed expectation reset for nascent EV players, such as Fisker , Rivian Automotive and Lucid Group . Their stocks are down more than 65% over the past 12 months. “We believe a select few of the formerly ‘high-flying’ EV stocks are primed for a measured return path to increased consumer & investor momentum as they push forward to mass production mid-decade onwards,” McNally wrote in an extensive note initiating coverage of the three EV makers. He said the companies will have rebirths like Phoenixes rising from the ashes, with Fisker, Rivian and Lucid each having unique positioning in the industry and the potential to become “major players over the next decade.” Each has separate, premium “go-to-market” niches within the growing EV market, he said. “Especially encouraging is the fact that each company is focusing initially on a realistic premium segment of the market, where EV cost parity will come quicker than mass market EVs as rising battery pack costs eat away at mass market margins for the likes of GM & Ford,” McNally said. “While this is only a temporary advantage, it will help Fisker, Rivian, and Lucid conserve (some) cash and begin to scale at an appropriate level in advance of mass market EVs being truly viable from a business perspective, 2025 onwards,” he added. Fisker Evercore ISI is most bullish on Fisker. It initiated coverage of the stock with an outperform rating and price target of $15, nearly 107% higher than where it closed Tuesday. Over the near term, Fisker can leverage its partnership with contract manufacturer Magna Steyr. Fisker develops and designs its vehicles in-house but outsources to Magna Steyr to build them. That will help the EV maker to avoid the $5 billion to $8 billion in capital funding Rivian and Lucid will need through 2026, said McNally. Fisker will likely need $400 million to $800 million in funding over the next year, he said. The company also targets share gains in a currently neglected EV space: well-styled, smaller SUVs with tech-forward features, he said. “We see 40-50% upside to ’23 revenue consensus and a path to ~40k deliveries, easing the negative sentiment surrounding the former SPAC and unlocking a higher valuation,” McNally wrote. There is also a lot of excitement over its new EV, Ocean, which began rolling off the production line in November. That could “help turn the stock from speculation into a real Rev/execution story,” McNally said. Fisker’s stock is down nearly 53% year to date. Rivian Of the three EV makers, Rivian is the largest and most well funded, and its R1T pickup has rave reviews, McNally said. He rates the stock as in line with positive bias and has a $35 price target, implying 21% upside from Tuesday’s close. He sees a catalyst path after revenue consensus for 2025 is fully reset. Right now he believes expectations are too high. “Then we would begin to see vertical integration & branding advantages take charge,” McNally wrote. If the year-end 2022 run rate at its Illinois facility implies stronger-than-expected production, investor confidence should increase in the near term, as well as in the midterm with the expected opening of its second plant in Georgia in 2025-2026, he said. Other positive catalysts include the securing of near-term funding, perhaps through a capital raise in 2023 or 2024, and ensuring its newest, more affordable R2 model launches on time in 2026. The stock is down 71% year to date. Lucid Lucid epitomizes an aspirational EV, McNally said. “Lucid has both extensive vertical integration & leading e-powertrain aimed at the ultra-premium EV segment with the debut Air Sedan ($80-150k) and plans for an even more premium Gravity SUV as well as a lower-cost CUV (TBD; ’27/28?),” he wrote. However, he initiated coverage with an in-line rating and slight negative bias, noting that “Lucid has a long way to go on both TAM [total addressable market] expansion & high funding needs.” His $12 price target implies nearly 23% upside from Tuesday’s close. “Lucid’s technology is best in class, but the path to capitalize on that isn’t yet clear,” he said. One key positive catalyst for the stock could be a new, lower-cost model being introduced earlier than 2027. Also, a clear understanding of Saudi Arabia’s $3.4 billion investment and the company’s offering to raise $8 billion could help boost optimism, he said. The stock is down more than 73% year to date. — CNBC’s Michael Bloom contributed reporting.

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