Kromek Group PLC (LON:KMK) will achieve cash breakeven this year, according to analysts at Cantor Fitzgerald, who on Friday reiterated their ‘buy’ rating and 45p target price on the stock.
The broker said they expected revenue growth for the radiation detection specialist to continue in the “mid- to high-teens range”, adding that the group’s medical imaging arm was the “key medium-term driver” of growth.
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Cantor also said that the company’s nuclear and security screening offerings would provide “more immediately realisable earnings and cash”.
Overall, the broker said Kromek was building “a strong customer, manufacturing and intellectual property base”, with cash breakeven the next milestone for the group.
In mid-afternoon trading, Kromek shares were 1% lower at 24.3p.