(Finance) – Banca Akros has confirmed a Buy there recommendation on the title IMD International Medical Devicesa company listed on Euronext Growth Milan and active in diagnostic imaging systems, lowering the target price to 1.80 euros per share (from the previous 2.35 euros).
Analysts recall that, due to the industry slowdown and the continued complexity of the geopolitical and macroeconomic situation, along with delays in obtaining some product certifications for some high-margin devices and delays by some suppliers, the company has stated that the 2024 targets of 50 million euros in sales and 8 million euros in EBITDA will not be achievable. Furthermore, due to the continued uncertainty of the current environment, the company has decided to suspend communications on future forecasts.
Banca Akros, based on the weak results of the first half of 2023 and the new indications, has lowered estimates on FY24 revenues from 42.6 million euros to 40.2 million euros and the FY24 EBITDA margin from 14% to 12%. Reduced FY24 EPS by 18%.
(Photo: Carrie Allen www.carrieallen.com on Unsplash)