UPDATE: Stifel Nicolaus Raises PT to $16 on Rudolph Technologies on Advanced WLP Exposure

Stifel Nicolaus reiterated its Buy rating on Rudolph Technologies

and raised its price target from $14 to $16. Stifel Nicolaus commented, "As we have highlighted for some time, we believe the growth prospects for Rudolph will be driven by the emergence of advanced WLP techniques that are steadily being adopted in the industry. Its initial foray into this market came through its macro defect inspection and metrology businesses, targeting the large OSAT customer base (where the various OSATs are trying to differentiate themselves through technology and not just capacity)." Rudolph Technologies closed at $13.56 on Thursday.