Symbotic price target lowered to $55 from $58 at Northland

Northland lowered the firm’s price target on Symbotic to $55 from $58 and keeps an Outperform rating on the shares after the company posted an in-line quarter and guided Q2 slightly above expectations on revenue and below expectations on EBITDA. Following the report, the firm is lowering its FY24 EBITDA estimate to $99M from $146M.