As previously reported, Craig-Hallum analyst Greg Palm downgraded Symbotic (SYM) to Hold from Buy with a price target of $25, down from $45, citing the company’s “accounting mishap” and associated “credibility hit.” While the firm’s long-term view remains unchanged, it sees “too much uncertainty to defend the stock” at this point, the analyst tells investors.
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Read More on SYM:
- Symbotic downgraded to Hold from Buy at Craig-Hallum
- Symbotic downgraded to Sector Weight from Overweight at KeyBanc
- Booking initiated, Workday downgraded: Wall Street’s top analyst calls
- Morning Movers: Symbotic sinks following delay of 1oK filing
- Symbotic downgraded to Neutral at DA Davidson after more accounting errors found
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
