Symbotic price target raised to $52 from $32 at Citi

Citi raised the firm’s price target on Symbotic to $52 from $32 and keeps a Buy rating on the shares ahead of the Q2 results. “Still durable” demand trends for U.S. industrials should remain supportive of relatively solid results versus expectations, but most companies will likely remain cautiously optimistic relative to second half of the year expectations given some mixed economic trends and more difficult year-ago growth comparisons, the analyst tells investors in a research note.