Allient price target raised to $41 from $35 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Allient to $41 from $35 and keeps a Buy rating on the shares. The firm notes Allient reported strong Q4 results highlighted by upside to both revenue and earnings. Bookings were weaker, however, declining 32% on inventory and supply chain normalization. Notably, management announced a new “Simplify to Accelerate” strategy to remove unnecessary cost through footprint rationalization and increased efficiencies, among other initiatives. Craig-Hallum believes this was something that investors desired and should lead to strong margin expansion and earnings power in the coming years.