Symbotic shares are trading lower after Goldman Sachs maintained a Neutral rating but lowered its price target from $41 to $36.
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs has maintained a Neutral rating for Symbotic but lowered its price target from $41 to $36. This has led to a decrease in Symbotic's share price.
October 03, 2023 | 3:50 pm
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NEGATIVE IMPACT
Goldman Sachs has lowered its price target for Symbotic from $41 to $36, while maintaining a Neutral rating. This has resulted in a decrease in Symbotic's share price.
The lowering of the price target by a major financial institution like Goldman Sachs can negatively impact investor sentiment, leading to a decrease in the share price. The maintained Neutral rating indicates that Goldman Sachs does not see significant upside or downside in the near term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100