UPDATE: D.A. Davidson Reiterates Buy Rating, Lowers PT on FEI Company as Positive Long-Term View is Intact

In a report published Thursday, D.A. Davidson analyst Thomas Diffely reiterated a Buy rating on

, but lowered the price target from $105.00 to $100.00. In the report, D.A. Davidson noted, "4Q revenue and earnings slightly below consensus. Revenue of $265 million and pro-forma EPS of $0.98 (GAAP EPS was $0.79) came in shy of the Street mean of $273 million and $1.00, respectively. Pro-forma GM of 46.8% was 150bp below our model, influenced by unfavorable product mix." FEI Company closed on Wednesday at $86.35.