On Friday, Degroof Petercam maintained its buy recommendation on Carmat, while slightly adjusting its price target from €20.5 to €20.2.

In a note published in the morning, the Belgian investment house considers that the artificial heart manufacturer has "only a few more steps to go before a beautiful landscape emerges".

Degroof, which recently organized a conference dedicated to the healthcare sector, points out that the French company took the opportunity to confirm its forecasts, i.e. sales of between 10 and 13 million euros this year, a commercial launch in the USA scheduled for 2026, and breakeven financial results in 2027.

In terms of operational targets, Carmat says it is aiming to produce 100 Aeson systems in 2023, 500 in 2024 and 1,000 by 2027.

"Market demand does not seem to be a problem, but ramping up production to meet demand and targets could be a real challenge", says Degroof Petercam.

The Brussels-based firm explains that it has modified some of its forecasts to take into account the sales breakdown indications communicated by the company, as well as the expected evolution of its investments and operating expenses.

Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.