Symbotic Stock Cut to Sell at UBS. Why Walmart Can’t Be the Only Big Customer.
1. UBS downgrades Symbotic to Sell, raises price target to $35. 2. Walmart is Symbotic's flagship customer, funding new developments. 3. UBS sees slower sales growth of 28% vs. 50% market expectations. 4. Symbotic's order backlog growth is stagnant since late 2023. 5. 31% of Symbotic shares were shorted, indicating market skepticism.