Cognex upgraded to Buy from Hold at TD Cowen

TD Cowen analyst Joseph Giordano upgraded Cognex (CGNX) to Buy from Hold with a price target of $35, up from $30. It has been a challenging period for Cognex and much is still unknown, but “enough is in the shares at these levels and the pendulum has swung excessively negative,” the analyst tells investors in a research note. The firm says it has begun to hear the right talking points from management, and believes the company will announce more meaningful strategic shifts in the near future. Cognex’s headline and tariff fears have likely peaked, making the risk now skewed more positive in the shares, contends TD.