Bank of America reaffirms ‘Buy’ rating on Allegro MicroSystems Inc. (ALGM) but lowers price target to $38 from $45. Concerns arise over weaker recovery path for analog and automotive semiconductor companies due to volatile macroeconomic environment and increased competition. Bank of America reduces revenue forecast for auto semiconductor sector, predicting a 7% decline in sales next year. Allegro MicroSystems Inc. specializes in lidar technology through the acquisition of Voxtel. While ALGM shows potential, some believe other AI stocks offer greater upside. Analysts cite tariff uncertainties and competition in China as challenges for analog semi vendors.

Read more at Yahoo Finance: Bank of America Asserts Allegro MicroSystem’s Inc. (ALGM) ‘Buy’ Rating, Cuts Price Target