Ilika PLC (AIM:IKA, OTCQX:ILIKF) continues to make 'strong progress' across its Goliath and Stereax divisions, according to investment bank Liberum, reacting to the solid-state battery maker's latest market update.
It said the deal with Cirtec, concluded last August, served to significantly de-risk Ilika’s mm-scale, ultra-thin product offering "while also allowing the company to place a greater focus on its high-growth electric vehicle division division".
"We also see the recent achievement of D4 development status and Li-ion energy density parity at Goliath as important achievements as the company progresses towards its first prototype for customer release his year," Liberum added.
It reiterated its 'buy' rating and 65p a share price target. In late afternoon trading the stock was changing hands for 38.5p, down 1.2p on the day.