Roth Capital raises Allient price target to $70 on growth and dividend hike despite Q1 misses

Roth Capital increased its price target for Allient to $70, indicating a 5.53% upside from its current price of $66.33. This comes despite Allient missing Q1 earnings and revenue estimates, with earnings at $0.50 per share versus $0.55 expected and revenues slightly below consensus. However, the company showed year-over-year growth and strong management confidence, highlighted by increased bookings and a 33% dividend increase to $0.04 per share. These factors suggest optimism about Allient's future cash flow and growth prospects in the automation and electrification market.