Oddo BHF has reiterated its 'outperform' opinion and its price target of 38 euros on Kalray, following a publication in line with its expectations, which testifies to an initial acceleration in the commercial phase and reinforces its forecasts for 2023.

"The major new contracts signed in the first half and the ramp-up of the Dell partnership tend to lend further credibility to the company's objectives for the current financial year", believes the analyst in charge of the dossier.

While Kalray has experienced some lags in its commercial execution since its IPO in 2018, Oddo BHF believes that, after years of investment, 'the newsflow to come should definitively act as confirmation of Kalray's profile change and long-term potential'.

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