Symbotic price target raised to $33 from $20 at TD Cowen

TD Cowen raised the firm’s price target on Symbotic to $33 from $20 and keeps an Outperform rating on the shares. The analyst said we view the share reset as an opportunity for those who have been watching to re-evaluate and make entry. 2Q results were a comfortable beat, and the company continues to show further evidence of scaling the enterprise.