The defending Italian champions are currently level on 13 points with Napoli at the top of the league table, while the Rossoneri are seven points behind in 10th place.
"Juve are the favourites for the league, but there's others up there," said Allegri. "Napoli do not have the Champions League and may be annoyed by that, while Roma, Lazio and Inter [Milan] are equipped."
Allegri is also confident that Milan will turn around their fortunes following a disappointing start to the season.
"What we need is a bit of serenity, sometimes when we go ahead we almost fear the opposition, and that leads to their enhanced possession," he said.
"The good thing is that we are doing very well in defence. Currently on the San Siro pitch the ball slips and I do not know how to solve it, but maybe in a month things will get better."
Milan are at Parma for their sixth Serie A game of the season on Saturday.