Deutsche Bank has reiterated its 'buy' rating on Creo Medical Group PLC (AIM:CREO) with a price target of 40p following the company’s full-year results on Monday.
The target implies a near fourfold increase from the current share price of just over 10p.
Creo, which develops surgical endoscopy and advanced energy devices, reported sales of £30.7 million for 2024.
Core technology revenues rose 74% to £4 million, supported by strong customer growth. The number of core technology users increased to 214, with around 850 potential users in the pipeline.
The group completed the sale of a 51% stake in its consumables division earlier this year.
The cash from the transaction, received in February, significantly bolstered Creo’s balance sheet and brought in a leading endoscopy company as a strategic partner.
The shares were flat at 10.03p.