Mizuho and Evercore cut Allegro Microsystems targets, keep Outperform ratings
According to TradingView, Mizuho lowered its Allegro Microsystems target to $46 from $58 and Evercore ISI cut it to $40 from $53, both keeping Outperform.
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what happened
Analysts at Mizuho kept their Outperform rating on Allegro Microsystems shares but reduced the price target from $58 to $46, a 20.7% cut. TradingView reports that the new target is measured against the October 29 close of $33.03 and implies a 39.3% upside.
Evercore ISI also maintained Outperform and lowered its target from $53 to $40, a 24.5% decrease. The bank's implied upside from the same close is 21.1%. Per TradingView, targets set over the past 30 days sit between $40 and $50.
why it matters
For markets this is routine: target revisions reflect analysts' estimates and are not a forecast of where the shares will trade. Cuts made while the rating stays at Outperform usually signal a change in expectations for the company rather than a shift in the overall stance on the stock.
tags
instruments
sources
- Mizuho maintains Allegro Microsystems at Outperform, lowers price target to $46 from $58 — TradingView, 30 October 2026 at 11:24 UTC
- Evercore ISI Group maintains Allegro Microsystems at Outperform, lowers price target to $40 from $53 — TradingView, 30 October 2026 at 12:20 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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