DA Davidson analyst Thomas Diffely raised the firm’s price target on FormFactor (FORM) to $55 from $45 and keeps a Buy rating on the shares. The company posted a solid “beat & raise” quarter highlighted by the beginning of a nice margin recovery as revenue strength from high bandwidth memory is driving EPS upside and also positions as a key component in advanced AI chip packages, the analyst tells investors in a research note. This association with the exploding AI market is driving multiple expansion for the stock, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FORM:
- FormFactor price target raised to $44 from $23 at Northland
- FormFactor price target raised to $42 from $35 at Stifel
- Formfactor’s Mixed Performance and Strategic Initiatives Lead to Hold Rating
- Cautious Optimism: Hold Rating on Formfactor Amid Recent Performance and Valuation Concerns
- FormFactor upgraded to Buy from Neutral at Citi