Goldman Sachs Downgrades Cognex (CGNX) to Sell

Goldman Sachs analyst Joe Ritchie downgraded Cognex (NASDAQ: CGNX) from Neutral to Sell with a price target of $36.00 (from $45.00).

• Believes the franchise remains "solid" but is incrementally more negative noting end market headwinds.
• "We also note that CGNX is embedding a significant 2H GM ramp that is unlikely to materialize, in our view, based on typical seasonality."

For an analyst ratings summary and ratings history on Cognex click here. For more ratings news on Cognex click here.

Shares of Cognex closed at $42.51 yesterday.

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