UPDATE: Stifel Nicolaus Raises Target to $51 on FEI Company

Stifel Nicolaus reiterates its Buy rating on FEI Company

and raises its price target to $51, up $2, on growth coming from the company's diversified business model. Stifel Nicolaus says, "We believe the company continues to take action (i.e. shift to Czech Republic, bringing some manufacturing in house, improving product mix in electronics and oil and natural resources) to further grow its gross margin profile, which will trickle down to the bottom line. In particular, strong shipments of electronics could see some support later in the year when the WellSite program begins to gain traction." FEIC closed at $46.14 a share on Wednesday.