UPDATE: D.A. Davidson Reiterates Buy Rating, Raises PT on FormFactor on Strong 4Q Results

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

, and raised the price target from $10.00 to $12.00. In the report, D.A. Davidson noted, "Strong 4Q results. Revenue of $71.3 million was in line with the Street mean of $71.2 million and pro-forma EPS of $0.11 exceeded the Street view of $0.07. Lower than modeled OpEx and a tax benefit helped drive the earnings upside relative to our model. Cash generation was a positive $9.5 million (FORM now has $2.91 cash per share)." FormFactor closed on Wednesday at $7.91.