TD Cowen notes that Symbotic (SYM) shares are under pressure on the heels of a Walmart (WMT) press release regarding non-ambient food automation projects, but in the firm’s view there is nothing “new” in this release. Symbotic is working towards a refrigerated / frozen solution and expects to have one in early 2025, notes the analyst, who argues that the company’s opportunity “remains large and ahead of them.” The firm maintains a Buy rating and $55 price target on Symbotic shares, which are down nearly 5% to $36.26 in afternoon trading.
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