Dassault Systèmes: Jefferies adjusts target price

(CercleFinance.com) - Jefferies maintains its "underperform" rating on Dassault Systèmes shares, despite adding a euro to its target price (from E34 to E35), continuing to believe that EPS- and ROCE-dilutive acquisitions (M&A) will weigh on the share price.


The broker looks back at the enterprise software company's investor day, pointing out that, as expected, it used the meeting to set new five-year targets for doubling its EPS.

"However, the detail suggests little conservatism in organic growth (with targets higher than current year guidance) and larger M&A than current buyside consensus", it says.


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