Cantor Fitzgerald analyst Andres Sheppard says shares of Polestar rose 13% after a new CEO was announced along with $300M in external funding. While surprised about Thomas Ingenlath’s departure, the firm continues to believe Polestar benefits from the support of Volvo and Geely, and manufacturing in China. Cantor expects Polestar’s delivery volume and margin progression to improve materially in the second half of 2024. It keeps an Overweight rating on the shares with a $3 price target.
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