Camtek (CAMT) PT Raised to $110 at Evercore ISI

Evercore ISI analyst Mark Lipacis raised the price target on Camtek (NASDAQ: CAMT) to $110.00 (from $100.00) while maintaining a Outperform rating.

The analyst comments "We remain buyers of CAMT as our top SMID-Cap, Advanced Packaging pick post its beat and raise MarQ EPS report. CAMT MarQ EPS beat by 12% and JunQ outlook was 9% higher, driven by HBM+Chiplet revs doubling QQ, which now account for 60% of total (40%HBM + 20% Chiplet related). Mgmt. noted continued order strength and visibility into 2H24, consistent with our thesis that advanced packaging is the fastest growing segment in SCE. We view CAMT as an AI beneficiary benefiting from the growing adoption of chiplet architectures as AI chips drive die sizes larger. With over 60% of its revs exposed to packaging, CAMT is our top SMID-Cap advanced packaging play. We have a 3-yr EPS power of $4 and our PT offers 21% upside."

You May Also Be Interested In

• Morgan Stanley Upgrades QIAGEN NV (QIA:GR) (QGEN) to Overweight
• Definium Therapeutics Inc (DFTX) PT Raised to $60 at Oppenheimer
• Qualcomm (QCOM) PT Raised to $195 at BofA Securities