Exosens shares jump after 'strong' H1 results

Exosens SA

03/09/2024 09:11

** Shares in Exosens  EXENS.PA  rise 8.4% following 'strong'
H1 results, its first earnings report since June IPO, and
confirmed guidance
    ** The French technology company's H1 revenue rises 50% y/y
to 186.9 million euros  ($206.77 million, while adjusted EBITDA
reaches 56.1 million euros
    ** J.P. Morgan and Bernstein see these H1 results as
"strong"
    ** "(Exosens) has achieved 50% of our FY24 Adj EBIT forecast
in H1 24 and earnings are often stronger in H2 for defence
companies," JPM says
    ** JPM adds shares are trading modestly below IPO price due
to underperformance of French stocks during political
uncertainty - it sees these weakness as an entry point
    ** At 21.20 euros, the shares are about 11.7% below the
opening price of 24 euros on their first day of trading in June
    ** Out of 5 analysts that cover Exosens SAS, five rate the
stock "strong buy" or "buy"​ 
    
($1 = 0.9039 euros)

 (Reporting by Anna Peverieri)
 ((Anna.peverieri@thomsonreuters.com))