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Symbotic Reports Q1 Beat: Analysts Boost Their 2024 Estimates, ‘Strong Secular Growth Story’

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Symbotic Inc (NASDAQ:SYM) shares were climbing in early trading on Tuesday, after the company reported a sales beat for its fiscal second quarter.

The results were reported amid an exciting earnings season. Here are some key analyst expectations.

KeyBanc Capital Markets On Symbotic

Analyst Ken Newman maintained an Overweight rating and price target of $55.

Symbotic reported its quarterly sales and EBITDA significantly ahead of expectations, while exhibiting strong free cash flow generation, Newman said in a note.

Although the company announced its fiscal third-quarter guidance in-line with consensus, “We think the outlook could be modestly conservative …

Full story available on Benzinga.com

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