Dassault Systèmes: Oddo ups target price

(CercleFinance.com) - Oddo has confirmed its "buy" rating on Dassault Systèmes, raising its target price by 15% to 110 euros, the day after the publication of excellent fourth-quarter 2017 results, with very good prospects for the first quarter of 2018.


These factors have encouraged the broker to believe that the group could do better in terms of licenses and probably at the recurrent level, with Oddo therefore expecting respective growth of 12% and 9% at constant exchange rates.

Oddo has raised its target price for the share by 4%, partly thanks to the integration of Exa Corp, the cut in the tax rate and particularly the continuation of the stock's re-rating towards a 12-month forward EV/EBITDA of 22x (against 19x previously).


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