Evercore Remains Bullish on Allegro MicroSystems (ALGM), Cites Robust Automotive and Data Center Cycles [Yahoo! Finance]
Evercore Inc. Class A (EVR)
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Source: Yahoo! Finance
On October 31, 2025, Evercore ISI increased its price target on Allegro MicroSystems, Inc. (NASDAQ:ALGM) from $37 to $49, while maintaining an “Outperform” rating. The bullish stance of the firm reflects robust automotive and data center cycles, with Evercore highlighting the stock as a top SMID analog pick. The analyst optimism stemmed from a robust growth outlook, driven by a restocking cycle and expanding data center opportunities. vichie81/Shutterstock.com On the previous day, Allegro MicroSystems, Inc. (NASDAQ:ALGM) announced its second-quarter results. The quarter marked a 14% YoY growth in sales, taking them to $214 million, thanks to 21% and 23% growth in e-Mobility and Industrial & Other segments. Furthermore, non-GAAP EPS came in at $0.13, beating expectations. The robust performance in the quarter was driven by record automotive sensor demand, data center fan driver IC sales, and rapid adoption of high-speed current sensors. The short-term growth momentum remains on
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