FormFactor initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Matthew Prisco initiated coverage of FormFactor (FORM) with an Overweight rating and $75 price target FormFactor’s 68% rally since September has been fueled by strong HBM exposure, improving gross margins, and growing demand for advanced probe cards needed for increasingly complex AI chips, the analyst tells investors in a research note. The firm sees meaningful medium-term upside, with EPS potentially reaching ~$3 in 2027 and ~$4 in 2030 under reasonable scenarios, implying a discounted fair value around $75 based on a 25x multiple.