Carmat: up sharply, broker upgrades to 'buy

(CercleFinance.com) - Carmat gains more than 4% in Paris, to 4.
2 euros, as Invest Securities upgrades its advice on the stock this morning from 'subscribe' to 'buy', with a slightly reduced price target, from 13 to 12 euros.

Invest Securities has updated its model following the success of the capital increase.

The broker believes that the funds raised will enable Carmat to support sales growth in the commercial and clinical areas, and to strengthen its leeway for obtaining new, longer-term financing.

Thus, "despite low financial visibility, we are confident in the group's ability to strengthen its cash position over the longer term, and the planets are aligned to boost the share price in 2024", concludes the analyst.


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