BWS Financial initiated coverage of Symbotic (SYM) with a Sell rating and $10 price target. The firm contends that the latest quarterly report from Symbotic “suggests there could be little in the form of catalysts” and believes investors are putting too much reliance on Symbotic generating revenue from Walmart (WMT), even though the latter is also using Symbotic’s competition for warehouse automation.
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Read More on SYM:
- Symbotic Announces Date for Reporting Third Quarter Fiscal 2024 Financial Results
- Symbotic price target lowered to $54 from $60 at Craig-Hallum
- Symbotic down on Walmart news, but ‘nothing new’ in release, says TD Cowen
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