DA Davidson raised the firm’s price target on Symbotic (SYM) to $57 from $53 and keeps a Neutral rating on the shares after its Q1 results. As Symbotic ramps up installs on its new buffering structure, the firm is hopeful that system start velocity gains additional momentum beyond the recent successes, alongside new customer acquisition, the analyst tells investors in a research note. The firm’s view on competitive moat, tech, and overall backlog visibility for Symbotic remains unchanged, DA Davidson added.
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