A target wheel for a camshaft phaser stamped and drawn from sheet metal stock. The hub region of the target wheel may be drawn such that it extends through the phaser cover plate and seals directly against the face of the rotor, allowing a shorter cam bolt and resulting in reduction in mass and cost of the phaser. Alternatively, a separate hub is formed and then attached to a simplified stamped and drawn target wheel, or a target wheel hub is formed integrally with the rotor and extends through the cover plate to mate with a simplified stamped and drawn target wheel. Preferably, the hub is formed having a neck extending through a central opening in the target wheel, which neck is peened over during assembly to secure the wheel to the hub.