Polestar price target lowered to $1.10 from $1.70 at Citi

Citi lowered the firm’s price target on Polestar to $1.10 from $1.70 and keeps a Neutral rating on the shares. The analyst updated the company’s model for its recent financial disclosures and outlook, including the preliminary Q1 results. While the recent pullback in the shares is “somewhat tempting” amid Polestar’s new product momentum and cost cutting actions, Citi would like to form greater conviction around the gross margin outlook and free cash flow usage given recent headwinds from tariffs and electric vehicle price pressures, the analyst tells investors in a research note.