[Mizuho and TD Cowen Raise Allegro Price Target, Market Seeks AI Wave Beneficiaries Beyond Leading Stocks] BlockBeats News, June 30: On Monday, U.S. sensor and power semiconductor solutions provider Allegro MicroSystems (ALGM) surged 14.7%, closing at $66.37, and hitting an all-time intraday high of $67.41. Mizuho Securities analyst Vijay Rakesh maintained an 'Outperform' rating on the stock and raised the price target from $54 to $67, citing the company's benefit from increased demand for current sensors, fan drivers, and power semiconductors driven by the ramp-up of AI servers. TD Cowen also listed Allegro as one of the 'top picks' among small- and mid-cap stocks, assigning a $70 price target. The firm believes that automotive electrification, autonomous driving, and AI data centers are long-term growth drivers for the company, with data center business currently accounting for approximately 14% of Allegro's revenue. These rating adjustments indicate that Wall Street is seeking AI beneficiaries beyond Nvidia and Micron. AI data centers not only require GPUs and high-bandwidth storage but also power supply, cooling, sensing, connectivity, and control systems. As capital expenditures transition from cloud providers' budgets to actual construction orders, more small- and mid-cap hardware companies are being incorporated into the AI trading landscape. Analysts also noted that second-tier AI concept stocks typically have lower liquidity and greater valuation elasticity, making their stock prices more sensitive to brokerage ratings and price target adjustments. Allegro's surge reflects market optimism about the expansion of the AI hardware supply chain and demonstrates investors' willingness to pay a higher premium for companies that 'indirectly benefit from AI.'