UBS Raises its Price Target on Allegro MicroSystems (ALGM) Allegro MicroSystems' latest price target boost from major investment firms has sent shockwaves through the tech world, but beneath the surface lies a more nuanced story about electric vehicle innovation and its impact on the broader supply chain.
The recent string of upgrades from UBS analyst Timothy Arcuri, Evercore ISI's Mark Lipacis, and Jefferies' Blayne Curtis sends a clear message: Allegro MicroSystems is an electric vehicle (EV) stock worth investing in.
The company's Q1 results show a 23% sales increase to $890 million, driven by growing demand for its sensor integrated circuits in EVs and data centers.