ALLE News & Analysis

Citi Downgrades Allegro (ALLE) to Neutral After 63% Rally

Citi has downgraded Allegro (ALLE) to a Neutral rating after the company's stock experienced a 63% rally. This downgrade follows a recent update, where Citi also raised its price target. The shift in rating comes after significant gains in stock price, indicating a more cautious outlook. This news matters for investors as it highlights Citi's changing perspective on Allegro's performance after notable stock price increases.