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

DA Davidson analyst Matt Summerville raised the firm’s price target on Cognex (CGNX) to $35 from $32 and keeps a Neutral rating on the shares after its Q2 earnings beat. The firm is boosting its projections for Cognex 2025 EPS to 90c from 86c while noting that the downcycle in demand may have bottomed, the analyst tells investors in a research note. The upside seen in Q2 and the current guide for Q3 were encouraging, particularly with respect to emphasis on expense optimization and free cash flow, the firm added.