Camtek price target raised to $55 from $50 at BofA

BofA analyst Vivek Arya raised the firm’s price target on Camtek to $55 from $50 and keeps a Buy rating on the shares based on better-than-expected June quarter results, September quarter guidance and a “constructive outlook” into calendar 2024. Camtek management sees high-bandwidth memory, or HBM, revenue to double to 15-20% of total fueled by strong market growth and expanding tier 1 customer partnerships, the analyst tells investors.