Dassault Systemes: UBS revises its price target

(CercleFinance.com) - Dassault Systèmes has confirmed its EPS target for 2024 at 1.
27-1.30 euros, but has lowered its target for total sales growth from 6-8% to 5-7%, to reflect the wait-and-see attitude of customers and the contraction of the automotive market.

Following this announcement, UBS confirms its Neutral recommendation on the stock, but lowers its target price to E35 (from E36.5).

'Dassault Systemes' valuation is close to its lowest level in 10 years. Medidata is stabilizing, but the road back to growth could be bumpy, and visibility on core automotive business is low' says UBS.

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