Dassault Systèmes: Oddo BHF confirms buy rating
(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Dassault Systèmes shares, with an unchanged price target of E47.
The analyst points to 'a more favorable growth sequence for 2025 and 2026, which is only partially taken into account by the market'.
Thus, after a difficult 2024 (org growth of +5%), penalized both by the Auto sector, Medidata and the transition to subscriptions, Dassault Systèmes is entering a more favourable phase, the broker says.
Good surprises in Automotive could secure the upper end of the guidance range. DSY should see further acceleration in 2026 (+8% to +10% org seems realistic) thanks to Medidata (growth closer to 10%, i.e. +1pt), the conversion of the Automotive pipeline, the lesser negative impact of the transition to subscriptions and, optionally, the first monetizations of generative AI, the broker concludes.
Copyright (c) 2025 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.
The analyst points to 'a more favorable growth sequence for 2025 and 2026, which is only partially taken into account by the market'.
Thus, after a difficult 2024 (org growth of +5%), penalized both by the Auto sector, Medidata and the transition to subscriptions, Dassault Systèmes is entering a more favourable phase, the broker says.
Good surprises in Automotive could secure the upper end of the guidance range. DSY should see further acceleration in 2026 (+8% to +10% org seems realistic) thanks to Medidata (growth closer to 10%, i.e. +1pt), the conversion of the Automotive pipeline, the lesser negative impact of the transition to subscriptions and, optionally, the first monetizations of generative AI, the broker concludes.
Copyright (c) 2025 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.