Symbotic upgraded to Buy from Neutral at DA Davidson

DA Davidson upgraded Symbotic (SYM) to Buy from Neutral with a $35 price target The key tenets of the firm’s long-term bullish thesis remain intact, inclusive of Symbotic’s massive technological differentiation and moat and multiyear, backlog-informed top-line visibility, and the upgrade follows the firm’s analysis of Symbotic’s two iterations of accounting restatements for 2024, its recent filing of its annual Form 10-K, as well as the firm’s modeling update, the analyst tells investors in a research note. DA Davidson believes benefits from ongoing innovations, potential new customer engagements, international expansion, and the buildout and uptake of GreenBox’s WaaS offering all remain important potential catalysts.