Barclays analyst Tom O’Malley lowered the firm’s price target on Allegro MicroSystems to $32 from $35 and keeps an Overweight rating on the shares. The company guided to a material recovery off the bottom but after the more significant reset it “will have to prove it out,” the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALGM:
- GHSP Leverages Allegro MicroSystems’ Technology to Shift the Future of Electric Vehicles with the Introduction of New eVibe System
- Allegro MicroSystems to Announce Fourth Quarter and Fiscal Year 2024 Financial Results
- Allegro MicroSystems initiated with an Outperform at Evercore ISI
- Allegro MicroSystems Board Changes and Director Compensation Update
- Allegro MicroSystems Appoints Jennie Raubacher to its Board of Directors
