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Cognex price target lowered to $32 from $35 at DA Davidson

DA Davidson lowered the firm’s price target on Cognex (CGNX) to $32 from $35 and keeps a Neutral rating on the shares after its Q1 results. The firm is cutting its FY25 EPS view by 2c to 86c, reflecting the ongoing weakness in the company’s Automotive segment and incremental cautiousness within the Semiconductor vertical, the analyst tells investors in a research note. Cognex’s logistics business remains strong however, driven by e-commerce demand and related footprint optimization, with Consumer Electronics expected to deliver modest growth, the firm added.

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