Oddo BHF initiates coverage of Kalray at 'outperform' with a price target of 38 euros, 'given the considerable upside in the event of good execution and the attractive risk/reward at the current price, despite the recent rebound'.

Kalray offers a promising deep-tech profile", says the analyst, who points to its "disruptive data processing technology (DPU), with established competitive advantages", and its positioning in high-potential emerging markets such as AI.

The company has already achieved important industrial and commercial milestones, paving the way for a take-off phase, starting in 2022, and a change of dimension", adds Oddo BHF in its summary note.

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