Goldman Sachs double upgraded Cognex (CGNX) to Buy from Sell with a price target of $50, up from $42, which represents 32% upside from here. The company’s organic growth is improving, due to its logistics automation penetration, improving consumer electronics growth and the bottoming of auto spending, the analyst tells investors in a research note. Goldman sees Cognex’s cost control drive upside to estimates as its volumes improve.
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