logo-loader
Kromek Group PLC

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: 17.25 GBX

Market: AIM
Market Cap: £59.45 m
Follow

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Kromek Group PLC named herein, including the promotion by the Company of Kromek Group PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Kromek making big strides on all fronts and in a great place says CEO Basu

''The last year was a milestone for us'' says Arnab Basu, chief executive of medical and nuclear screening group Kromek PLC (LON:KMK). ''We won US$80mln of new contracts to make the total US$145mln over the past three years.'' ''As these contracts are multi-year in nature we have...

on 27/6/19

2 min read