Panmure Liberum analysts highlighted Judges Scientific PLC (AIM:JDG) 'strong cash conversion' amidst the instruments company's 'in-line' first half.
“Management is absolutely focused on controlling the controllables and improving the profitability and cash generation of its businesses. This should position it well for when markets improve,” Panmure Liberum analyst Sanjay Vidyarthi said in a note.
Weakness in the US, where Judges' sales fell 18% year-on-year, and it remains the main challenge - linked to ongoing research funding freezes - though the broker pointed to “some signs of thawing”, but warned that the uncertainty would likely persist into 2026.
Panmure Liberum has kept its forecasts unchanged, and reiterated a Buy rating with a 9,000p target price (versus a prevailing price of 6,239p).