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Symbotic downgraded to Neutral from Buy at DA Davidson

DA Davidson downgraded Symbotic (SYM) to Neutral from Buy with a price target of $47, up from $35. The firm, which is reducing its revenue and adjusted EBITDA projections for FY26, cites nearer-term revenue growth deceleration and the stock’s current valuation for moving to the sidelines, but adds that its fully expect organic sales to reaccelerate in FY27 as system start velocity picks up.

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