Allegro MicroSystems price target raised to $45 from $43 at Jefferies

Jefferies raised the firm’s price target on Allegro MicroSystems (ALGM) to $45 from $43 and keeps a Buy rating on the shares. The company’s margin guide came in lower but was well anticipated and, more importantly, the structural growth profile of the business is shifting higher, tied to new growth opportunities in AI data centers and Robotics, the analyst tells investors in a research note.