Allied Motion price target raised to $45 from $40 at Roth MKM

Roth MKM raised the firm’s price target on Allied Motion to $45 from $40 and keeps a Buy rating on the shares. The analyst cites the company’s solid Q4 revenue print, driven by Industrial and A&D, while also highlighting its diversified end markets. The firm further states that backlog and orders for Allied Motion remain at or near record levels, supporting a good start to 2023.