Camtek can recapture higher multiples as visibility improves, says Stifel

Stifel analyst Brian Chin notes Camtek (CAMT) reported Q3 results and issued Q4 guidance that exceeded the firm’s and consensus estimates. The firm agrees with Camtek’s assessment that CoWoS remains a key bottleneck and expects visibility to improve as TSMC (TSM) alleviates this. The firm, which believes the stock can recapture higher multiples as this occurs, maintains a Buy rating and $105 price target on Camtek shares.