Last Week’s 10 Best-Performing Stocks

4. Lucid Group Inc. (NASDAQ:LCID)

Shares of Lucid Group surged by 15.79 percent week-on-week to close at $2.42 on Friday from the $2.09 registered on March 14.

The rally was primarily buoyed by Morgan Stanley’s “underweight” rating, an upgrade from the “equal weight” rating previously.

It also gave the company a new price target of $3, or a 23.97-percent upside from its last closing price.

According to Morgan Stanley, it believes that LCID has the opportunity to execute an AI strategy leveraging strategic partnerships with the context of urgency to develop onshore manufacturing capacity for Battery Electric Vehicles as the socket for the AI brain.

“While [LCID] can continue to license out their industry-leading drivetrain technology to legacy OEMs, we see the real value in potential partnerships with AI/ADAS players for advancing autonomy in a software-defined EV socket,” Jonas added.