As previously reported, Craig-Hallum analyst Greg Palm upgraded Symbotic (SYM) to Buy from Hold with a $70 price target The firm highlights coming revenue growth reacceleration and strong margin expansion potential and more confidence in the P&L trajectory going forward than previous quarters. A new customer win was also important and opens up new opportunities in the health care vertical, Craig-Hallum adds. While the stock will always appear expensive on a valuation basis, the firm notes scarcity value will continue to garner a premium valuation. And if estimates are going up, Craig-Hallum believes investors will pay up for the stock.
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Read More on SYM:
- Symbotic price target raised to $70 from $56 at Northland
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- Symbotic upgraded to Buy from Hold at Craig-Hallum
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