3 Wall Street Research Initiations of Interest Today

This post was originally published on this site

https://i-invdn-com.investing.com/news/LYNXMPEB2G0QI_M.jpg

Each day Wall Street research analysts initiate new coverage on stocks in the sectors they follow and establish ratings, like Buy/Hold/Sell, set price targets, and publish earnings and other financial estimates. Below are 3 new coverage stocks that grabbed our attention today:

UBS initiated coverage on Symbotic Inc (NASDAQ:SYM), a leader in supply chain automation technology, with a Buy rating and a price target of $17.00. According to the analysts, the company offers an attractive combination of upside potential with its leading tech aiming to disrupt a $250 billion market but also downside protection with over an $11 billion backlog, providing years of visibility, and insulating the outlook from macro uncertainty.

Jefferies initiated coverage on Rubicon Technology Inc (NASDAQ:RBCN), a waste and recycling marketplace broker, with a Buy rating and a price target of $10.00. According to the analysts, their rating is based on an industry that is ripe for digitization providing room for ample growth along with a strong M&A pipeline supported by long-term contracts and adjusted gross margin accretion over time from mix shift.

Compass Point initiated coverage on Zillow Group Inc (NASDAQ:ZG) with a Buy rating and a price target of $50.00. While customer demand is generally correlated to overall real estate market conditions that are expected to remain under pressure through mid-2023, the analysts see the challenge and opportunity for the company to actively capture share, which holds potential growth implications that may far offset near-term market headwinds. The analysts believe very modest gains in share may translate into substantial Revenue and EBITDA growth potential above consensus.