Northland Downgrades Allient Inc. (ALNT) to Market Perform, '4Q23 Upside; FCF FY24 Focus'

Northland analyst Ted Jackson downgraded Allient Inc. (NASDAQ: ALNT) from Outperform to Market Perform with a price target of $40.00 (from $45.00).

The analyst comments "We are lowering our rating from OP to MP and trimming our price target from $45 to $40. The company reported 4Q23 results that were generally better than expected with revenues exceeding consensus and EBITDA inline with consensus. FCF was excellent given the weak market ALNT faced. While think ALNT’s shares are modestly undervalued, we were surprised to see ALNT’s shares jump higher yesterday given that we do not see a recovery in the company’s end markets until 2H24, at the earliest."

For an analyst ratings summary and ratings history on Allient Inc. click here. For more ratings news on Allient Inc. click here.

Shares of Allient Inc. closed at $36.18 yesterday.

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