UBS Downgrades Symbotic to Neutral, Raises Price Target to $40
Portfolio Pulse from richadhand@benzinga.com
UBS analyst Chris Snyder has downgraded Symbotic (NASDAQ:SYM) from Buy to Neutral, while raising the price target from $34 to $40.
June 29, 2023 | 12:05 pm
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NEUTRAL IMPACT
Symbotic's rating has been downgraded to Neutral by UBS, but the price target has been raised to $40.
The downgrade to Neutral suggests that UBS sees limited upside potential for Symbotic in the near term. However, the raised price target indicates that UBS still sees value in the stock, which could limit any potential downside. This could lead to a neutral impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100