2022-11-16 08:04:52 PSNY Polestar
11/16/22 11/1608:04 11/16/2208:04 | Citi resumes Polestar with a Buy, encouraged by recent progressCiti analyst Itay Michaeli resumed coverage of Polestar with a Buy rating and $12 price target and updated his model to reflect recent quarterly results. He has been "encouraged by Polestar's recent progress," including staying on track for 2022 volume goals, securing additional financing, and continuing its new product rollout plans while also being encouraged by management's comments on the initial Polestar 3 reception. Progress suggests the long-term story remains on track, though he has adjusted his gross margin ramp estimates to reflect ongoing macro and supply chain risks, the analyst added. |
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