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
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- Morning Movers: Symbotic sinks following delay of 1oK filing
- Symbotic downgraded to Neutral at DA Davidson after more accounting errors found