Invest Securities maintains its 'buy' recommendation on Carmat, but reduces its target price from 10 to 7.6 euros, following the new financial extension obtained by the medical technology company, in the form of a financing line.

This downward revision is mainly based on the increase in beta, to reflect Carmat's difficulties in significantly strengthening its financial visibility, when the dilutive impact of the financing line was already largely built into its model.

The research department nevertheless welcomes an encouraging half-year update, marked by a doubling of the implantation rate compared with the first quarter, with the guidance assuming a further strong acceleration in the second half.

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