Seeking alpha gives Polestar (PSNY) 8$ PT

For 2023, we are attaching an $8 price target to Polestar, based on the following assumptions:

  • 58% growth in volumes to 81.5k vehicles, slightly above Polestar’s internal target of 80k units
  • 75% revenue growth to $4.35 billion from an estimated $2.46 billion in revenues in 2022
  • net losses shrinking to ($0.36) per share for FY23, putting Polestar on a quicker path to profitability by late FY24/early FY25
  • positive EBITDA in mid-FY24; 17x FY25 EBITDA of $1.1 billion with gross margin expanding to 12% to 14% on projected FY25 revenues of $11.6 billion
  • projected FY25 net margin of 6% and EPS of $0.33, or ~24x FY25 earnings
Seeking Alpha

For more information, Data, And Analysis on Polestars recent research, see | SEEKING ALPHA |

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