DA Davidson Downgrades Symbotic to Neutral, Raises Price Target to $50
Portfolio Pulse from richadhand@benzinga.com
DA Davidson analyst Matt Summerville has downgraded Symbotic (NASDAQ:SYM) from Buy to Neutral, while raising the price target from $36 to $50.
August 01, 2023 | 11:58 am
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NEUTRAL IMPACT
Symbotic's rating has been downgraded to Neutral from Buy by DA Davidson, but the price target has been raised from $36 to $50.
The downgrade to Neutral suggests that the analyst sees limited upside potential for the stock in the near term. However, the increase in the price target from $36 to $50 indicates that the analyst still sees long-term value in the company. This could lead to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100