Allegro Microsystems (ALGM, Financial) received a significant update from the financial world today, as B of A Securities analyst Vivek Arya announced a revised price target for the stock. The analyst maintained the company's current rating of "Action List Buy", an upgrade from the previous "Buy" rating, reflecting ongoing confidence in the company's outlook.
The updated price target for Allegro Microsystems (ALGM, Financial) has been raised to $45.00 USD, up from the prior target of $38.00 USD. This adjustment represents an increase of approximately 18.42%, highlighting the analyst's positive expectations for the company's future performance.
Investors may find this information noteworthy as they consider their positions on Allegro Microsystems (ALGM, Financial). The decision to maintain the "Action List Buy" rating alongside the increased price target indicates a strong belief in the company's potential for growth.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 13 analysts, the average target price for Allegro Microsystems Inc (ALGM, Financial) is $31.21 with a high estimate of $45.00 and a low estimate of $23.00. The average target implies an downside of 17.62% from the current price of $37.89. More detailed estimate data can be found on the Allegro Microsystems Inc (ALGM) Forecast page.
Based on the consensus recommendation from 13 brokerage firms, Allegro Microsystems Inc's (ALGM, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Allegro Microsystems Inc (ALGM, Financial) in one year is $27.21, suggesting a downside of 28.19% from the current price of $37.89. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Allegro Microsystems Inc (ALGM) Summary page.
