Carmat: Invest Securities lowers its target

(CercleFinance.com) - The analyst has lowered his price target to 4.
2E (from 7.6E), but confirms his buy recommendation on the stock.

Invest Securities says it remains 'confident in the Group's ability to ward off the liquidity risk, which weighs heavily on sales momentum and, above all, on valuation'.

The analyst believes that, after reporting encouraging first-half sales in July, the Group published first-half results on Friday before trading that were broadly in line.

Management has finally lowered its 2024 sales target to €8/12m. We found the previous target difficult to maintain. The cash position offers financial visibility until the end of September, and various financing options are currently being studied to extend it. In view of the poor visibility and a dynamic constrained by low liquidity, we are adopting a more cautious stance on our MT sales assumptions' indicates Invest Securities.

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