Citi resumed coverage of Polestar Automotive with a Neutral rating and $5 price target. The analyst maintains a positive view on the company’s electric vehicle position, saying it has successfully ramped the Polestar 2 and established a global presence. However, the firm prefers to stay on the sidelines for now given prevailing macro and competitive risks, Polestar’s reliance on stronger second half of 2023 deliveries, and the company’s relatively narrower cash flow runway versus peers.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on PSNY:
- Unusually active option classes on open July 10th
- Polestar Automotive delivers 15,800 vehicles in Q2, up 36%
- Polestar Jumps on Tesla’s Charging Standard Bandwagon
- Polestar Automotive in pact with Tesla on new North American Charging Standard
- Polestar enters into strategic joint venture to accelerate growth in China