DA upgrades Symbotic to Buy on ‘unparalleled’ AI tech moat

DA Davidson upgraded Symbotic (SYM) to Buy from Neutral with a price target of $70, up from $57. The firm says the company has an “unparalleled AI-enabled technology moat” which is years beyond its closest peers. Symbotic’s visibility “remains unparalleled” and its balance sheet is “flush with cash,” the analyst tells investors in a research note. DA views the shears as attractive in the current uncertain geopolitical and macro backdrop.