Allient upgraded at Northland on improving industrial and vehicle markets

As previously reported, Northland analyst Ted Jackson upgraded Allient (ALNT) to Outperform from Market Perform with a price target of $35, up from $30. Allient has faced several headwinds over the past year, but the firm thinks the industrial market is improving and expects the drag from a weaker vehicle market to decline rolling through FY25, the analyst tells investors. The firm has increased confidence in its sales projections and adds that an improving margin structure, driven by continued restructuring, further bolsters its confidence in bottom-line growth as well.