Symbotic initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of Symbotic (SYM) with an Outperform rating and $35 price target The firm sees the company “disrupting” the warehouse and distribution center market with artificial intelligence-driven automation that has the potential to reshape the fulfillment supply chain. Symbotic is a leading automated warehouse system that leverages vertical integration into a large opportunity, the analyst tells investors in a research note. Opco says that while Symbotic’s backlog supports growth through fiscal 2028, customer concentration is a risk.