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PDF Solutions price target raised to $42 from $40 at DA Davidson

DA Davidson analyst William Jellison raised the firm’s price target on PDF Solutions to $42 from $40 and keeps a Buy rating on the shares after its Q1 results earlier this month. Following rapid growth with its leading customer in 2023, including the installation of its first two DFI machines, revenues stabilized in Q4 and Q1, and the firm didn’t get the impression that this customer was slowing its use of PDF software, the analyst tells investors in a research note. On the contrary, PDF Solutions is expected to install its third DFI machine this quarter, which should underpin further Analytics growth as it produces differentiated data processed within Exensio, the firm added.

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