Cognex downgraded to Hold from Buy at Truist

Truist analyst Jamie Cook downgraded Cognex (CGNX) to Hold from Buy with a price target of $43, down from $46, following mixed Q3 results. The firm, which is reducing its FY24, FY25, and FY26 adjusted EBITDA estimates to $147M, $195M, and $254M, respectively, cites limited upside to its revised price target for the downgrade.