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Morgan Stanley has initiated coverage on Allegro MicroSystems with an 'Overweight' rating and a price target of $52, citing strong automotive business recovery and data center growth.
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Allegro MicroSystems has launched a new suite of power and sensing products designed to improve energy efficiency and power density in 800V AI data centers.
Wells Fargo analyst Joseph Quatrochi maintains Allegro Microsystems (NASDAQ:ALGM) with a Overweight and lowers the price target from $56 to $45.