Forex
Allegro MicroSystems Earns 'Moderate Buy' Rating Upgrade
Allegro MicroSystems (NASDAQ:ALGM) has received an upgrade from Royal Bank Of Canada, which now rates the stock as a 'moderate buy'.
This is not the first time Allegro MicroSystems has been upgraded by analysts. Wall Street Zen had already upgraded shares of the company from a 'hold' rating to a 'buy' rating in a research note on August 2nd.
Despite this, TD Cowen cut their target price on shares of Allegro MicroSystems from $66.00 to $48.00 and set a 'buy' rating on the stock in a research note on July 31st.
The company's market cap is $7.37 billion, with a price-to-earnings ratio of 658.94 and a beta of 1.99.