Barclays analyst Tom O’Malley raised the firm’s price target on Allegro MicroSystems (ALGM) to $23 from $22 and keeps an Overweight rating on the shares. The company’s trends are headed in the right direction after a broad-based beat in March and stronger June quarter, the analyst tells investors in a research note.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALGM:
- Allegro MicroSystems Reports Q4 and FY 2025 Results
- Allegro MicroSystems: Buy Rating Affirmed Amidst Technological Innovation and Financial Recovery
- Allegro Microsystems’ Earnings Call: Mixed Signals and Future Prospects
- Positive Outlook for Allegro MicroSystems Amid Revenue Growth and Strategic Management
- Allegro MicroSystems: Strong Financial Performance and Growth Prospects Drive Buy Rating