Baird analyst Quinn Fredrickson upgraded Novanta to Outperform from Neutral with a price target of $144, down from $150. The firm remains positive on the advanced industrial technology group, saying the sector's Middle East exposure is minimal while cyclical indicators continue to point towards improvement in 2026 and 2027. Baird sees the recent pullback in the stocks as a buying opportunity. It cites valuation for the upgrade of Novanta following the recent selloff.
