reports
- Antoine Lebourgeois
Canatu: FY24 results in line, H2-loaded FY25 outlook, limited visibili...
On Friday, Canatu reported FY24 results for the first time as a listed company. Figures were broadly in line with our estimates, though gross margin fell short due to adverse mix effects from reactors—a transitory headwind, in our view, as reactor sales are expected to decline as a share of the mix
- Antoine Lebourgeois
Canatu: takeaways from ASML, TSMC and DeepSeek’s latest development
Following ASML and TSMC’s results and DeepSeek’s latest model release, we examine the implications for Canatu’s pellicle revenue trajectory, with a favourable read-across for CNT-based EUV pellicle adoption. Strong ASML and TSMC results suggest ~50 EUV lithography systems delivered in 2025, of whic
- Antoine Lebourgeois
Canatu: feedback from roadshow with CEO
Following the roadshow with Canatu's CEO, we summarise the key takeaways. We appreciate the more detailed disclosure, which provides better insight into Canatu's positioning and business model, particularly regarding its semiconductor products. The CEO's in-depth explanation of Canatu's technologic
- Antoine Lebourgeois
Canatu: leading the charge to unlock the potential of carbon nanotubes
We initiate coverage of Canatu, a leading player in advanced carbon nanotubes (CNTs), with a Buy rating and a EUR15 price target. Recently listed post-combination with Lifeline SPAC 1 in September 2024, Canatu offers a compelling growth opportunity, well-positioned to capitalise on the commercialis
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.