Allient price target lowered to $39 from $42 at Roth MKM

Roth MKM lowered the firm’s price target on Allient to $39 from $42 and keeps a Buy rating on the shares, updating the firm’s model after the company’s Q1 results earlier this month. Near-term headwinds in select markets in conjunction with normalizing order patterns post pandemic supply chain issues likely create a modest headwind through 2024 for Allient, though the restructuring programs initiated earlier this year should drive efficiencies and position the company to better leverage growth in 2025, the analyst tells investors in a research note.