Polestar (PSNY) Stock Receives $12 Price Target

By Amit Chowdhry ● Nov 24, 2022
  • The shares of Polestar (PSNY) recently received a $12 price target. These are the details.

The shares of Polestar (PSNY) recently received a $12 price target.

Price target: $12

Rating: Buy

Analyst firm: Citi

Citi analysts adjusted the rating after updating the model to reflect recent quarterly results. And they have been encouraged by Polestar’s recent progress, including staying on track for volume goals this year, securing additional financing, and continuing its new product rollout plans while also being encouraged by management’s comments on the initial Polestar 3 reception. And the progress suggests the long-term story remains on track. But they have adjusted the gross margin ramp estimates to reflect ongoing macro and supply chain risks.