As the stock trading week came to a close on Friday, Symbotic (SYM 8.80%) was an outlier in the best way possible. Shares of the artificial intelligence (AI) industrial solutions provider soared nearly 9% higher during the session, thanks to several positive analyst reactions to its recent news about a project with a top retailer. That 9% was well higher than the 0.8% gain posted by the S&P 500 index on the day.

South-of-the-border success

That news, disseminated on Thursday, concerned Symbotic’s new deal with Walmart‘s majority-owned Walmex, essentially its operations in Mexico and the Central America region. Under the terms of the arrangement, Symbotic is to supply its AI-powered technology in two Walmex distribution facilities in Mexico. The financial terms of the work were not disclosed.

Although Walmart is not a new client for Symbotic — in fact, it is a major investor in the AI company — the south-of-the-border deal indicates the massive U.S. retailer continues to be hungry for the company’s solutions.

On Friday, no less than three analysts tracking Symbotic reiterated their bullish takes on the company. Among these was Baird’s Robert Mason. In reaffirming his outperform (read: buy) recommendation and $41 per-share price target, he wrote that “Expansion outside the U.S. was a Symbotic long-term strategic objective, now achieved with entry into Mexico.” He expects further expansion into other markets.

Tapping into a broader trend

Mason’s peer Andrew Kaplowitz at Citigroup viewed Symbotic’s news as indicative of a broader need for the company’s solutions. In his latest analysis, he said the opportunities for warehouse automation are growing worldwide due to the need for more efficient operation of such facilities. Symbotic is poised to exploit this, a key reason Kaplowitz is maintaining his buy recommendation and price target of $49 per share.