Symbotic price target raised to $70 from $57 at Needham

Needham raised the firm’s price target on Symbotic (SYM) to $70 from $57 and keeps a Buy rating on the shares. The company ended FY25 on a strong note, reporting better-than-expectedFQ4 revenues and adjusted EBITDA while providing Q1 guidance that at the midpoint was above expectations, the analyst tells investors in a research note. Led by strong Systems gross margins, Symbotic delivered solid sequential improvement in gross margins and record adjusted EBITDA margins, the firm added.