TD Cowen raised the firm’s price target on Allegro MicroSystems (ALGM) to $28 from $25 and keeps a Buy rating on the shares. The firm said a top-line beat/raise with gross margin downside proved good enough given the difficult backdrop and Allegro’s extended digestion period.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALGM: