Oddo BHF confirms its 'neutral' rating on Carmat shares, with a price target lowered from 9 to 6.8 euros.

As a reminder, Carmat announced yesterday that it had raised €15 million in financing. In the end, it exceeded initial expectations, raising gross proceeds of €16 million (€14.2 million from specialized investors and €1.8 million from individual investors).

The objective of this capital increase is first and foremost to reinforce the company's financial visibility in order to continue the development of its Aeson production and its EFICAS trial in France", underlines the broker.

This operation extends Carmat's financial visibility until mid-August of this year. A strengthening of its cash position is therefore expected in the meantime, which could captivate the share price in the coming weeks, continues the analyst.

We are integrating this dilution this morning, as well as a one-year delay on our initial profitability expected in 2027 (vs. 2026)," concludes Oddo BHF.

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