Roth Capital Starts Allied Motion Technologies (AMOT) at Buy
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Roth Capital analyst Gerry Sweeney initiates coverage on Allied Motion Technologies (NASDAQ: AMOT) with a Buy rating and a price target of $57.00.
The analyst comments "Our investment thesis is driven by expected organic growth of 7-8% due to previously announced auto contracts and double digit growth in A&D and Medical segments. Revenue growth should lead to operating leverage as SG&A costs moderate allowing for increased FCF and debt reduction. Acquisitions and AMOT’s One Allied program remains an important lever for expansion by acquiring technology and customers and integrating them into its global sales platform."
Shares of Allied Motion Technologies closed at $46.14 yesterday.
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