(BFM Stock Exchange) – The German bank has increased on the specialist in computer design and manufacturing software. His research leads him to project solid growth from Medidata.

Dassault Systems suffered greatly last year on the stock market. CFAO software specialists (computer -assisted design and manufacturing) lost 24.4% in 2024, with a warning on results issued in July. The group was penalized by contracts of contracts as well as by recurring disappointments in the “life sciences”.

In this last division, Dassault Systems suffered from Medidata’s activity, a subsidiary specializing in medical software that allows you to follow clinical trials. This company found growth only in the last quarter of 2024.

The group nevertheless reassured investors, especially in its cash generation trajectory, when it is published in its annual results in early February.

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“Favorable winds” for 3dexperience

This on Monday, another encouraging message was sent by Berenberg Bank, which noted its opinion of “keeping” to “buy” and enhanced its course target at 44.4 euros against 36 euros before.

The Dassault Systems action reacts well to this change of opinion. The title takes 4.4% on Monday, March 3, signing one of the strongest increases in the CAC 40.

Berenberg believes that Dassault Systèmes is “adorned to a rebirth” on the stock market. “Our study shows that the company benefits from promising winds, which should allow it to regain its status as a compound ‘(a company with a significant competitive advantage and recurring, editor’s note) income, to resume its status as a European software active software and to demand multiple valuation that is significantly higher in the process,” explains the German bank.

Berenberg notes that after a difficult year 2024, investors’ expectations were revised downwards.

But beyond this base of more favorable expectations (and comparison) Berenberg anticipates a vigorous dynamic for the products of the company, in particular its 3dexperience platform, which brings together several applications of 3D models or simulation of the company. Berenberg notes that adoption for this product is accelerating, with customers who throughout 2024 have adopted this platform for the first time or have extended their use of this platform. Volkswagen and BMW car manufacturers have, for example, signed a 3 -dexperience contract.

From 2025 to 2028, Berenberg tried to grow income on this platform close to around 20% per year.

Medidata adorned to accelerate

Crucial point: the German bank also thinks that Medidata will move from dead weight status to that of contributor to growth. After a decline of 0.5% in 2024, the bank tables growth of 1.3% in 2025 which will then accelerate at 1.8% in 2026 then 2% in 2027 and 2.2% in 2028.

The Bank observes a resumption of new clinical trials in the United States, an advanced indicator of Medidata’s growth. Last year, they increased from 9.9% to 43,600 units, the strongest growth since the years 2010 (excluding COVID period), notes Berenberg.

“Since Medidata is mainly centered on the United States, where it achieves more than three-quarters of its turnover, this trend is particularly relevant, in our opinion,” notes the German bank.

Berenberg explains that Medidata will also have new products that will help fuel growth over the coming years. It cites “Rave Lite”, specially designed for phase I and IV clinical trials, smaller and cheaper phases than phase II and especially phase III, the step preceding the marketing authorization of a treatment.

In view of these assets, Berenberg considers that the current valuation of the company offers an entry point to investors.