Barclays Maintains Overweight on Allegro Microsystems, Lowers Price Target to $32
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Blayne Curtis has maintained an Overweight rating on Allegro Microsystems (NASDAQ:ALGM) but lowered the price target from $35 to $32.

May 10, 2024 | 7:26 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Barclays maintains an Overweight rating on Allegro Microsystems but lowers the price target from $35 to $32.
The maintenance of an Overweight rating by Barclays indicates a positive outlook on Allegro Microsystems, suggesting confidence in the company's fundamentals. However, the reduction in the price target could reflect adjustments in market conditions or expectations, potentially leading to mixed short-term reactions in the stock price. The overall impact is considered neutral as the positive sentiment of the Overweight rating may balance out the negative perception of a lower price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100