Mizuho raised the firm’s price target on Allegro MicroSystems (ALGM) to $31 from $28 and keeps an Outperform rating on the shares. The firm says that with softening auto and electrical vehicle trends, it updated its analog outlook for 2025 to downside and highlights elevated demand uncertainty. Mizuho sees some downside risk to auto semis with tariffs. However, it declining inventories and outlook clarity could set up a better second half of 2025, the analyst tells investors in a research note.
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