Symbotic (SYM) is expected to drive growth in revenue and adjusted earnings before interest, taxes, depreciation, and amortization for the next several years, Deutsche Bank said in a Friday note.
Deutsche Bank analysts said they expect over 25% annual revenue growth through 2027, and that they remain "attracted" to the automation technology company's backlog, which reached $22.7 billion at the end of March.
Analysts said that while they continue to see a "top-tier multi-year revenue growth trajectory" for Symbotic, they believe much of the optimism is already priced in at the company's current valuation.
Deutsche Bank lowered its rating on the stock to hold from buy while lifting its price target to $51 from $48.
Price: 53.16, Change: -1.02, Percent Change: -1.88
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