UPDATE: Needham & Company Upgrades Camtek (CAMT) to Buy

(updated to add analyst comment)

Needham & Company upgraded Camtek (NASDAQ: CAMT) from Hold to Buy with a price target of $7.00.

Analyst Edwin Mok is positive on the divestiture of PCB as the company is now transforming into a more pure-play back-end semi inspection company. The analyst is expecting outperformance relative to peers through the remainder of 2017 and into 2018 which also translates into "good opportunity for upside into earnings."

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 $5.42 yesterday.

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