Allegro MicroSystems price target raised to $39 from $36 at BofA

Core Viewpoint - Bank of America analyst Vivek Arya has increased the price target for Allegro MicroSystems (ALGM) to $39 from $36 while maintaining a Buy rating on the shares, indicating positive sentiment towards the company's stock performance [1] Group 1: Price Target and Ratings - The price target for Allegro MicroSystems has been raised to $39 from $36 [1] - The firm maintains a Buy rating on Allegro MicroSystems shares, reflecting confidence in the company's future performance [1] Group 2: Market Trends and Expectations - The firm has raised price targets for most of its diversified analog semiconductor stock coverage, suggesting a positive outlook for the sector [1] - Expectations for modest calendar Q4 beats and Q1 raises are noted, particularly driven by industrial semiconductors [1] - Ongoing rebounds across most subsegments, favorable pricing, and robust growth in strategic AI businesses are contributing factors to the positive outlook [1]