FormFactor price target raised to $42 from $32 at DA Davidson

DA Davidson raised the firm’s price target on FormFactor to $42 from $32 and keeps a Buy rating on the shares. The company’s Q2 results were mixed with revenues impacted by Systems shipment pushouts while better than expected margins and OpEx controls boosted earnings, the analyst tells investors in a research note. Current demand is stable and this sets the table for a nice ramp in probe card activity starting next year when the market recover, the firm added.