Polestar initiated with a Neutral at BofA in ‘tough EV market’

As previously reported, BofA initiated coverage of Polestar (PSNY) with a Neutral rating and $1.25 price target Polestar offers pure-play exposure to the growing EV market, is improving its earnings profile and is nearing an inflection point in sales volumes, but it faces risks from its Chinese ownership amid potential changes to U.S. trade and subsidy policies and the next phase of EV market growth will “likely be more challenging,” the analyst tells investors.