Kalray: Oddo BHF reduces target price

(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Kalray shares, while reducing its target price for them from E22 to E19, to take into account the signature of a bond issue redeemable in shares and to apply a dilution related to this announcement.


While the processor company reported a 29% fall in H1 sales, in line with its expectations, the broker expects H2 sales to grow very strongly in view of the sales pipeline.

Oddo BHF has lowered its 2024 sales forecast, but is maintaining growth of 50% in 2025 and 2026, supported by growth in the Jumbo Contract and the launch of products developed in collaboration with Pliops.


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