Broker Peel Hunt didn’t mince words following news that Nanoco Group PLC (LSE:NANO) lost an important customer of its materials used in infrared sensing applications
In a bleak assessment, Peel Hunt analysts said: “With this strategic shift, Nanoco’s chances of commercialisation fall to zero in 2025, resulting in the company expecting revenues to be 25% below consensus, and shifting down from a low starting point for the outer years.
“This means all hopes for a scaled commercial production project lie with its one Asian customer, with whom Nanoco continues to work well.
“However, the company does not expect production volumes until the medium term, and even then, the volumes are uncertain.”
Peel Hunt reckons there is “potential for Nanoco to be used in a reverse takeover”.