Symbotic price target raised to $53 from $50 at Northland

Northland analyst Michael Latimore raised the firm’s price target on Symbotic (SYM) to $53 from $50 and keeps an Outperform rating on the shares following the company’s Q4 earnings beat. The company had a record number of new system starts at nine, notes the firm, which cites slightly higher revenue estimates for its increased price target on the shares.