Dassault Systèmes: Invest Securities still a buyer
(CercleFinance.com) - Invest Securities confirms its buy recommendation on the share, maintaining its target price at E46.
Despite a disappointing Q3 performance and a further downward revision of 2024 targets, we are rather reassured by this publication (performance of Medidata and Solidworks) and by management's view that the slowdown is cyclical and not structural, it says.
The analyst believes that while short-term visibility is low (cf. extended guidance range for Q4 24), momentum should gradually improve from Q2 25, or even Q3 25.
With revised estimates for 2024-26th of only -1.8%/-2.3%/-2.0% at adjusted EPS level, and an unchanged CB at 46E, we reiterate our Buy opinion, considering current prices to be particularly attractive entry levels from an MT/LT perspective, even though we are aware that revaluation will require an improvement in momentum and visibility, Invest Securities adds.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Despite a disappointing Q3 performance and a further downward revision of 2024 targets, we are rather reassured by this publication (performance of Medidata and Solidworks) and by management's view that the slowdown is cyclical and not structural, it says.
The analyst believes that while short-term visibility is low (cf. extended guidance range for Q4 24), momentum should gradually improve from Q2 25, or even Q3 25.
With revised estimates for 2024-26th of only -1.8%/-2.3%/-2.0% at adjusted EPS level, and an unchanged CB at 46E, we reiterate our Buy opinion, considering current prices to be particularly attractive entry levels from an MT/LT perspective, even though we are aware that revaluation will require an improvement in momentum and visibility, Invest Securities adds.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.