Dassault Systèmes: Invest Securities raises target price
(CercleFinance.com) - Invest Securities reiterates its "buy" rating on the Dassault Systèmes share, having edged up its corresponding target price from 196 euros to 200 euros, after an investor day which the broker says confirmed the group's solid medium-to-long-term growth momentum and the merits of its acquisition of Medidata in 2019.
The analyst adds that Cloud migration will be gradual and that the one-year delay to its EPS guideline of 6 euros is only the consequence of the health crisis. As such, the broker maintains its estimates, only partially integrating the 2024 guidance, targeting 5.48 euros.
While management warns that the acceleration of EPS growth will be gradual over 2021-24, the analyst feels that this reflects a conservative recovery scenario that could be revised upwards once visibility improves.
The share is up slightly, outperforming the CAC 40 by about 1% in early trading on Wednesday.
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