Needham Maintains Buy on Allegro Microsystems, Lowers Price Target to $44
Portfolio Pulse from Benzinga Newsdesk
Needham analyst Quinn Bolton has maintained a 'Buy' rating on Allegro Microsystems (NASDAQ:ALGM), but lowered the price target from $50 to $44.
November 03, 2023 | 11:16 am
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Allegro Microsystems' price target has been lowered from $50 to $44 by Needham, though the 'Buy' rating is maintained.
The news directly pertains to Allegro Microsystems as Needham has lowered its price target for the company. However, the 'Buy' rating is maintained, indicating that the analyst still sees potential in the stock. This could lead to mixed reactions in the market, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100