Orbotech Ltd. (ORBK) PT Raised to $40 at Needham & Company

Needham & Company raised its price target on Orbotech Ltd. (NASDAQ: ORBK) to $40.00 (from $38.00) while maintaining a Buy rating following beat and raise quarter.

Analyst James Ricchiuti performance was driven by record bookings and another quarter of double-digit growth in PCB and accelerating growth in flat panel display (FPD). Meanwhile, guidance was raised as ORBK apparently has a good line of sight to the business through Q4, the analyst said.

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