SYM - Symbotic Stock Is Headed to $58 According to 1 Wall Street Analyst. Is It a Buy?
2024-05-08 06:10:00 ET
Since the start of 2023, companies that can harness artificial intelligence (AI) have experienced high demand. Symbotic (NASDAQ: SYM) is one such company, providing AI-powered warehouse automation solutions.
The stock is up 54% over the past year, but after the company's blowout financial results, one Wall Street analyst believes there's more to come.
Deutsche Bank analyst Nicole DeBlase raised her price target on Symbotic to $58 while reiterating a buy rating on the shares. This represents potential upside for investors of 38% compared to the stock's closing price on Monday. Symbotic's breakout financial results fueled her enthusiasm -- and there was plenty to like.
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Symbotic Stock Is Headed to $58, According to 1 Wall Street Analyst. Is It a Buy?