Symbotic price target raised to $35 from $24 at Cantor Fitzgerald

Cantor Fitzgerald analyst Derek Soderberg raised the firm’s price target on Symbotic to $35 from $24 and keeps an Overweight rating on the shares. There is room for further share price appreciation on Symbotic this year, driven by the potential for a new customer announcement, the company’s Investor Day on May 18, and the potential for an accelerated deployment timeline, the analyst tells investors in a research note.