Allied Motion price target raised to $52 from $43 at Craig-Hallum

Craig-Hallum analyst Greg Palm raised the firm’s price target on Allied Motion to $52 from $43 and keeps a Buy rating on the shares. The firm notes Allied Motion ended 2022 by posting another strong quarter, highlighted by accelerating revenue growth and continued margin expansion. Importantly, Craig-Hallum believes management is increasingly focused on earnings expansion and thinks EBITDA margin should grow by at least 100bps in fiscal 2023 versus 2022.