Dassault Systèmes: Deutsche Bank downgrades stock

(CercleFinance.com) - Deutsche Bank downgrades its recommendation on Dassault Systèmes from 'buy' to 'hold', with a target price lowered from E52 to E36, seeing the risk of the French enterprise software company resetting its short-term forecasts.


Although they account for only 20% of the business, life sciences (mainly Medidata) have substantially underperformed in recent quarters, and their impact has been felt on sales, the broker points out.

While it believes that a rebound seems more likely than not, Deutsche Bank considers that current forecasts for 2024 and medium-term targets are under threat and need to be reset, particularly for life sciences.


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