Berkshire Grey's growth challenged by supply chain snags- Brokerage

Berkshire Grey

31/03/2022 13:04

** Bank of America cuts PT on the AI technology firm
 BGRY.O  to $10 from $12, says co's revenue outlook for 2022 was
~15% below its estimate 
    ** Brokerage says supply chain constraints are limiting the
pace of co's product rollouts 
    ** "The company has pushed out its target of positive gross
profit into ’23 on a mix of lower than expected shipments and
higher input costs" - BofA
    ** Reiterates 'buy' rating; adds it remains positive on
BGRY's long-term prospects and product demand 
    ** BGRY falls after forecasting FY22 revenue of about $90
mln, well below Wall Street estimate of $104.8 mln, as per
Refinitiv data  urn:newsml:reuters.com:*:nL3N2VW3UY
    ** Three of four brokerages rate the stock "buy" or higher,
one "hold"; their median PT is $8 - Refinitiv 
    ** As of last close, shares were down 46.27% this year 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))