Symbotic initiated with an Underweight at Barclays

Barclays analyst Guy Hardwick initiated coverage of Symbotic (SYM) with an Underweight rating and $38 price target The firm cites four reasons for its Underweight rating, namely that it expects the transition to a next generation grid system to impact deployments; that it expects Symbotic to guide below consensus for Q1 and remain cautious on first half of FY26 growth; that it questions customer payback on high system costs; and that it considers valuation to be “stretched.”