(CercleFinance.com) – Degroof Petercam maintained its buy recommendation on Carmat on Friday, while slightly adjusting its price target, reduced from 20.5 to 20.2 euros.
In a note released in the morning, the Belgian investment house judges that the manufacturer of artificial hearts has “only a few more steps to take before clearing a beautiful landscape”.
Degroof, which recently organized a conference dedicated to the health sector, points out that the French company took the opportunity to confirm its forecasts, namely sales ranging from 10 to 13 million euros this year, a launch sales in the USA expected by 2026 and break-even financial results in 2027.
With regard to operational objectives, Carmat says it is aiming for the production of 100 Aeson systems in 2023, then 500 in 2024 and 1,000 by 2027.
‘The demand from the market does not seem to be a problem, but the take-off of production in order to stick to the demand and to achieve the objectives could on the other hand represent a real difficulty’, underlines Degroof Petercam.
The Brussels firm explains that it has modified some of its forecasts in order to take into account the indications for the breakdown of sales communicated by the company, but also the expected development of its investments and operating expenses.
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