Analyst Charles Shi from Needham maintained a Buy rating on Camtek and increased the price target to $190.00 from $175.00.
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Charles Shi has given his Buy rating due to a combination of factors including renewed top-line momentum and resilient profitability. Camtek slightly exceeded its first-quarter revenue guidance, maintained a non-GAAP gross margin around 51%, and continues to derive roughly half of its sales from AI and high-performance computing, underscoring a healthy mix in structurally growing end markets.
Shi also highlights a clear acceleration path, with second-quarter revenue guided up about 7% sequentially and management projecting second-half 2026 sales more than 25% above the first half, alongside higher gross margins driven by new products. While the company’s full-year growth outlook of roughly 15% year over year trails some peers and has pressured the stock, he views this as a function of tougher comparisons rather than weaker fundamentals, and he lifts his price target to $190 based on a 40x multiple of updated 2027 non-GAAP EPS.