Jefferies raises Polaris PT on Ford bidirectional charging patent

Patrick Industries

05/12/2022 19:01

** Jefferies raises PT for off-road vehicle maker Polaris
Inc  PII.N  on Ford Motor Co's  F.N  patent to provide
bidirectional charging for recreational electric vehicles 
    ** "With range anxiety / charging access a key hurdle to
powersports electrification, this eventual optionality should
unlock incremental demand" - Brokerage 
    ** Raises PT by $6 to $106, adds co's dominant position in
powersports and exposure to utility segments offers relatively
safe harbor within recreational vehicles
    ** Six of 15 brokerages rate PII "buy" or higher, 8 "hold"
and 1 "sell"; their median PT is $113.5
    ** YTD, PII up ~2% 
 (Reporting by Pratyush Thakur in Bengaluru)
 ((pratyush.thakur@thomsonreuters.com))