Camtek (CAMT) Target Lifted to $6 at Chardan Capital Markets on 3D Printing Opportunity

February 18, 2014 8:28 AM EST
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Price: $3.24 -0.92%

Rating Summary:
    4 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 34 | New: 34
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Chardan Capital Markets analyst Jay Srivatsa reiterated a Buy rating and lifted his price target on Camtek (NASDAQ: CAMT) from $2.50 to $6.00 following Q4 results, saying the ocmpany is posed to become a player in 3D inkjet printing for PCBs.

"While its current business remains stable, we believe the CAMT is on the verge of bursting into the segment of 3D inkjet system for solder mask application, which, when it achieves full commercialization, could offer material growth in its revenues and earnings in FY:15," Srivatsa said. "The company revealed that it is currently in test process at a customer site and will begin to be used in a production environment. Commercial installation is expected to begin in 2H:14. This product has been years in the making and we are heartened to see that it finally close to customer acceptance. We believe success of this product could transform CAMT from an inspection only company to the heart of the being active participant in the PCB production process. Switching fair value metric to 15x FY:15 earnings from 10x FY:14 earnings, in the light of the new market opportunity that awaits them, our price target goes to $6.00."

For an analyst ratings summary and ratings history on Camtek click here. For more ratings news on Camtek click here.

Shares of Camtek closed at $4.51 yesterday.

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