Citi analyst Elizabeth Sun downgraded FormFactor (FORM) to Neutral from Buy with a price target of $31, down from $36, following a transfer of coverage. While the company is a beneficiary of growing advanced packaging demand, slow growth in the smartphone and PC markets are pressuring its sales and margins, the analyst tells investors in a research note. Citi cites softness in FormFactor’s markets outside of artificial intelligence for the downgrade.
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