Camtek price target raised to $55 from $37 at Northland

Northland analyst Gus Richard raised the firm’s price target on Camtek to $55 from $37 and keeps an Outperform rating on the shares after the company reported “a strong quarter” and provided “an upbeat outlook” into calendar year 2024, noting that it expects to make significant progress toward its goal of $500M in annual revenue. Camtek noting that it is experiencing strong order momentum for HBM, HI applications, and SiC inspection represents “a significant change of tone over the last 90 days,” the analyst added.