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3 major Wall Street research initiatives today

3 major Wall Street research initiatives today

By Davit Kerakossian

Every day Wall Street Research analysts start a new coverage of stocks in the sectors they follow and make ratings, such as buy/hold/sell, target price, earnings release and other financial estimates. Here are 3 new covering stocks that caught our eye today:

UBS began covering Symbotic Inc (NASDAQ :), the leader in supply chain automation technology, with a buy rating and price target of $17.00. According to analysts, the company offers an attractive blend of upside potential with its ground-breaking technology that aims to disrupt a $250 billion market but also downside protection with more than $11 billion accumulated, providing years of visibility and insulating the outlook from overall uncertainty.

Jefferies started coverage on Rubicon Technology Inc (NASDAQ :), a waste and recycling market broker, with a buy rating and a target price of $10.00. According to the analysts, their ranking is based on a mature digitization industry that offers scope for broad growth along with a strong pipeline of mergers and acquisitions backed by long-term contracts and accumulating time-adjusted gross margin from hybrid transformation.

Compass Point started coverage on Zillow Inc. Group (NASDAQ 🙂 with a buy rating and a target price of $50.00. While customer demand is generally related to the general real estate market conditions that are expected to remain under pressure until mid-2023, analysts see the challenge and opportunity for the company to actively capture the stake, which carries potential growth ramifications that may be offset by far-reaching market headwinds. Analysts believe the stock’s very modest gains could translate into significant revenue and the potential for EBITDA growth above expectations.

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