Symbotic price target lowered to $55 from $61 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Symbotic to $55 from $61 and keeps a Buy rating on the shares. The firm notes that Symbotic posted mixed results, which compared to previous quarters were disappointing against very elevated expectations. While Craig-Hallum understands the reaction in the stock in afterhours trading, it doesn’t believe investors should be concerned and is thus defending the stock on the pullback.