Despite in-line 1H results for Control Bionics and minimal changes to Morgans forecasts target falls to 58c from 85c.

The broker suspects a capital raise will be required and incorporates dilutionary impacts into its estimates.

While we are talking small numbers, the analyst highlights around 75% of around $3m in sales came from the US in the 1H, with the balance from Australia.

The Add rating is unchanged.

Sector: Technology Hardware & Equipment.

Target price is $0.58.Current Price is $0.16. Difference: $0.42 - (brackets indicate current price is over target). If CBL meets the Morgans target it will return approximately 72% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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