Symbotic price target lowered to $41 from $53 at Baird

Baird lowered the firm’s price target on Symbotic to $41 from $53 and keeps an Outperform rating on the shares. The firm said 4Q sales/EBITDA guidance contains tempering influences on sales/gross margin but expected to be short-lived, with deployment pipeline indicating sales re-accelerate by 1Q25, along with gross margin expansion.