Camtek price target raised to $62 from $52 at Stifel

Stifel raised the firm’s price target on Camtek to $62 from $52 and keeps a Buy rating on the shares after the company announced 45 new systems booked in the month of August. The update suggests a book-to-bill of about 1.2 with one month still remaining in the quarter, says the analyst, who notes that Camtek had already guided for calendar year 2024 revenue to be above the prior 2022 peak level. Improving backlog visibility “strengthens its case” and the firm is raising estimates to reflect this, the analyst added.