Symbotic Inc. (SYM) saw its stock price soar 5.22% during intraday trading on Monday.
The surge followed DA Davidson raising its price target on Symbotic to $57 from $53, while maintaining a Neutral rating, after the company's Q1 results. The analyst action suggests improved outlook or positive performance, likely driving investor optimism.
This price target increase indicates growing confidence in Symbotic's financial prospects, contributing to the stock's upward movement.