Camtek's Visibility Boost Amid Market Uncertainty: Analyst Raises Price Target Following Q2 Results
Portfolio Pulse from Nabaparna Bhattacharya
Stifel analyst Brian Chin has reiterated a Buy rating on Camtek Ltd. (NASDAQ:CAMT) and raised the price target to $52 from $44. This follows Camtek's Q2 FY23 results, which saw a revenue decline of 7.3% YoY to $73.758 million, beating the consensus of $72.380 million. Non-GAAP EPS of $0.45 also topped the consensus of $0.42. Chin believes Camtek's visibility is improving in a market lacking visibility, driven by heterogeneous integration/3D packaging. Camtek's shares are currently trading lower by 1.01% to $47.13.
August 04, 2023 | 10:13 am
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Camtek Ltd.'s Q2 FY23 results beat consensus, with a revenue decline of 7.3% YoY to $73.758 million and Non-GAAP EPS of $0.45. Stifel analyst Brian Chin has reiterated a Buy rating on the company and raised the price target to $52 from $44.
The reiteration of a Buy rating and an increase in the price target by a Stifel analyst following better-than-expected Q2 FY23 results indicates a positive outlook for Camtek Ltd. This could potentially lead to an increase in the company's stock price in the short term, despite the current trading lower by 1.01%.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100