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Allegro MicroSystems price target raised to $23 from $22 at Barclays

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.

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