Citi lowered the firm’s price target on Symbotic (SYM) to $29 from $37 and keeps a Buy rating on the shares. As part of a Q1 preview for the U.S. electrical equipment and industrial conglomerates, Citi says it believes the Trump Administration’s protectionist platform should “reboot” the group’s secular tailwinds over time. As such, the firm sees “value developing” across the multis. The sector’s Q1 orders and earnings “mostly should be fine,” the analyst tells investors in a research note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SYM:
- Symbotic price target lowered to $18 from $25 at Goldman Sachs
- Symbiotic call volume above normal and directionally bullish
- Symbotic’s Expansion Stagnation and Legal Challenges Signal Potential Stock Decline
- Largest borrow rate increases among liquid names
- Symbotic’s Unique Technology and Strategic Partnerships Highlight Promising Long-Term Growth Despite Near-Term Challenges
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue