Deutsche Bank has updated its financial model for Creo Medical Group PLC (AIM:CREO) in the wake of the med-tech specialist's prelims and reiterated its 80p price target - which is more than double the current share price of 36.47p (up 1.3% on the day).
"Priorities for 2024 include accelerating the training programme for core technology, broadening licensing agreements and investing wisely to manage cash," it said in a short note to clients.
"The results presentation helped clarify that the company's base case scenario will see the business through to break even in 2025 with several non-dilutive options to raise cash if required."
Creo is a medical device company focused on the emerging field of surgical endoscopy, a minimally invasive surgical technique.
The company develops advanced energy platforms and devices that utilise microwave and radiofrequency energy for cutting, coagulating, and ablating soft tissue during 'keyhole' procedures.
Its flagship product is the CROMA platform, which can deliver bipolar radiofrequency energy and microwave power through a single accessory port, enabling precise endoscopic surgery.