Polestar price target lowered to $1 from $2 at Barclays

Barclays lowered the firm’s price target on Polestar to $1 from $2 and keeps an Underweight rating on the shares. The company’s long-delayed Q1 earnings report was inline, but a “steep” second half of 2024 ramp is ahead on the path to its 2025 targets, the analyst tells investors in a research note. The firm sees a “key test ahead” as PS3 and PS4 begin to ramp am says Polestar’s covenants and tariffs remain overhangs on the stock.