(News Bulletin 247) – Invest Securities downgrades its advice on the Dassault Systèmes share from ‘buy’ to ‘neutral’, while slightly raising its target, from 38 to 40 euros.
The analysis office highlights ‘the impressive but unsurprising trajectory’ of the company.
“While we had taken advantage of the excessive decline in the stock post Q1 23 results to go back to BUY, the rebound since (+15%) has erased all potential, even though we are adjusting our price target today” indicates the broker .
Invest believes that Friday’s CMD (investor day) ‘did not bring any major change to the medium-term/long-term trajectory’, especially since the analyst does not include M&A, which will contribute 15 % to 30% to EPS growth over 2023-28.
‘For this reason, even though we still appreciate the company and its prospects, we are downgrading our opinion today in the hope of finding a more favorable entry point,’ concludes the analyst.
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