Northland raised the firm’s price target on Symbotic (SYM) to $70 from $56 and keeps an Outperform rating on the shares after the company “slightly” beat Q4 estimates and guided Q1 “slightly above consensus.” The new storage system is delaying some deployments, but should eventually shrink time to deploy and further help gross margin, the analyst tells investors in a post-earnings note.
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Read More on SYM:
- Symbotic price target raised to $82 from $60 at Cantor Fitzgerald
- Symbotic upgraded to Buy from Hold at Craig-Hallum
- Symbotic price target raised to $70 from $60 at Citi
- Cautious Outlook for Symbotic: Hold Rating Amid Promising Developments and Uncertainties
- Symbotic’s Strong Financial Performance and Strategic Advancements Drive Buy Rating and Increased Price Target