Citi has revised its price target for Symbotic (SYM, Financial), reducing it from $37 to $29, while maintaining a Buy rating for the stock. This adjustment was announced as part of Citi's first-quarter preview for U.S. companies in the electrical equipment and industrial sectors.
The financial services company anticipates that the policy measures from the previous U.S. administration, which embraced a protectionist stance, could gradually revitalize growth drivers for these sectors. Citi sees potential value emerging within these industries.
According to Citi's analysis, the forecast for the sector’s first-quarter orders and earnings appears generally positive, with expectations that they should perform satisfactorily.
