Allient downgraded to Market Perform at Northland on concerns about guidance

As previously reported, Northland analyst Ted Jackson downgraded Allient (ALNT) to Market Perform from Outperform with an unchanged price target of $35 ahead of the company reporting Q1 results before the market opens on Thursday, May 8. While the firm is “reasonably comfortable” with its Q1 sales forecast of $126.8M and $14.0M EBITDA estimate, it has concerns about guidance given Allient is directly exposed to economic uncertainly and a trade war, which could impact the demand for its products and the cost of materials, the analyst tells investors.