Polestar Automotive (PSNY)

Due to a reallocation of resources, Fox Advisors is discontinuing coverage of Polestar (PSNY – $1.71 – Last Rating: Equal-Weight – Price Target: NA). Effective immediately, our rating, price target, disclosures and estimates are discontinued…

Earlier today, Polestar (PSNY; $1.83; E/W) and Volvo Cars (VOLCAR.SE; KR34.54; NR) both publicly disclosed that Volvo intends to distribute its shares in Polestar to shareholders with Geely Sweden Holding being the primary recipient. Recall,…

Last night, Polestar (PSNY; $1.84; E/W) announced Q4 vehicle deliveries were approximately 12,800 (-15% QoQ and -39% YoY) or well below our estimate of 18,183 and the company’s own guidance of ~18,200, which it blamed…

We are reducing our rating on the shares of Polestar (PSNY; $2.07) from Outperform to Equal-Weight after last Wednesday night’s Q3 results were somewhat of a “mixed bag” and Q4E guidance once again disappointed in…

We are adjusting our Q3E and Q4E modeling for Polestar (PSNY; $2.66) after the company disclosed last Thursday (10/5) that its Q3 vehicle deliveries were approximately 13,900 (+50% YoY) and that it believes the company…

Polestar (PSNY; $3.33; O/P) announced full Q2 results this morning that were generally around our expectations outside of some noticeable gross margin disappointment. At the same time, the company shipped 15,765 vehicles during Q2, which…

We are raising our Q2E and full 2023E sales for Polestar (PSNY; $4.49; O/P) after the company disclosed last week that its Q2 vehicle deliveries were approximately 15,800 (+36% YoY), which was well ahead of…

On Tuesday (6/20), we hosted a “fireside chat” at our Transportation Technology Conference with Polestar’s (PSNY; $3.61; O/P) Chief Technology Officer Jörg Brandscheid, who was joined by Bojana Flint, Head of IR. The conversation highlighted…

We are adjusting our model for Polestar (PSNY; $3.81; O/P) to better incorporate our expectations around vehicle model mix, which as we have previously highlighted, can be worth ~800bps towards longer term gross margin targets…

Polestar Automotive (PSNY; $3.34; O/P) lowered its full 2023E vehicle deliveries outlook from ~80K (+55% YoY) to 60-70K (+16-36% YoY) with the release of its Q1 results, which also included a range of other “puts…

We initiate on the shares of electric vehicle maker Polestar Automotive (PSNY; $3.84) with an Outperform rating and price target of $7. The stock has now declined 68% over the past year to a valuation…