🟢 ALGM Surges 4.4% Driven by Mizuho Price Target Hike and Russell Index Inclusion

ALGM is trading 4.4% up at $60.45 following strong analyst sentiment and its inclusion in key Russell indices. - Mizuho raised its price target to $67 from $54, maintaining an Outperform rating, citing strong demand in industrial and AI data center markets. - Allegro MicroSystems was also added to the Russell 1000 Growth and Russell 3000E Growth Benchmarks, while being dropped from the Russell 1000 Value Benchmark. - This comes as shares rebound amid broader tech strength, with the Nasdaq rising, and continued positive sentiment from TD Cowen's recent price target raise.