TD Cowen analyst Joshua Buchalter raised the firm’s price target on Allegro MicroSystems to $35 from $32 and keeps a Buy rating on the shares. The firm said they see healthy and profitable growth through-cycle underpinned by leadership in high-resolution magnetic sensing and power. Cowen said the near-term valuation is steep but Allegro’s growth/profitability profile is scarce in its cap range.
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