Woofun AI reports that Allegro MicroSystems (ALGM) shares climbed 14.7% to close at $66.37, touching a daily high of $67.41. Mizuho Securities analyst Vijay Rakesh upheld an "Outperform" rating while increasing the price target from $54 to $67, attributing the adjustment to rising AI server demand for current sensors, fan drivers, and power semiconductors.

TD Cowen designated Allegro as a "top pick" among mid-cap stocks with a $70 target price. The firm identified vehicle electrification, autonomous driving, and AI data centers as key growth drivers, noting that data center operations currently generate approximately 14% of the company's revenue.