Barclays lowered the firm’s price target on Polestar Automotive to $2 from $3 and keeps an Underweight rating on the shares. The company’s Q3 report reflects the difficult demand environment faced by PS2, the analyst tells investors in a research note. The firm says that while the guidance cut for 2023 and 2025 volumes closer to its expectations, Polestar’s mid-term margin still appears optimistic.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
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:
- Luminar reports Polestar 4 to integrate Luminar LiDAR
- Polestar Automotive announces ‘strengthened’ business plan
- Polestar Automotive expects to deliver 60,000 vehicles this year
- Polestar Automotive reports Q3 revenue $613M vs. $435.4M last year
- Polestar Automotive options imply 12.1% move in share price post-earnings