FormFactor price target raised to $36 from $28 at Needham

Needham analyst Charles Shi raised the firm’s price target on FormFactor to $36 from $28 and keeps a Buy rating on the shares after its Q4 earnings beat. The analyst notes that the company has exceeded the high end of its own guidance and forecast Q1 to be roughly flat sequentially, adding that after two consecutive quarters of cutting outlook by double digits, this FormFactor print will likely be perceived as the first sign of bottoming for the business.