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Kromek “will achieve cash breakeven this year”, says Cantor Fitzgerald

While the group's medical arm was the "key" growth driver, the broker said that the nuclear and security screening businesses would provide "immediately realisable" earnings

Nuclear detection
Cantor has Kromek rated at 'buy' with a 45p price target

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.

READ: Kromek on a roll as it announces another three contract wins

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.

Quick facts: Kromek Group PLC

Price: 24.75 GBX

AIM:KMK
Market: AIM
Market Cap: £85.3 m
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