hVIVO’s order book has more than doubled to £65 million, prompting Shore Capital to reiterate its Buy rating and 25p target price.
The updated target compares with a current share price of 6.8p, implying potential upside of around 270%.
The broker’s positive stance comes despite the company facing a steep second-half delivery challenge.
hVIVO reported first-half revenue of £16.3 million, with full-year performance expected to be heavily weighted towards the second half.
The company said the enlarged orderbook provides improved revenue visibility for the rest of 2026 and into 2027 and 2028.
Proposal volumes were also around 45% higher year-on-year, supporting expectations for further commercial momentum.
Shore Capital’s reiterated target suggests the broker remains focused on the strength of the orderbook and the medium-term growth opportunity, rather than the weaker first-half revenue and EBITDA profile.
The key test for hVIVO will now be whether it can convert the strengthened orderbook into second-half revenue delivery and a return to positive adjusted EBITDA.
