Dassault Systèmes: Bryan Garnier still 'Neutral'
(CercleFinance.com) - An analyst at Bryan Garnier this morning maintains his "Neutral" rating on the Dassault Systèmes stock, shortly after the group's announcement that it has taken a majority stake of between 58% and 69%, in the publisher of a digital transformation and innovation platform.
Dassault Systèmes will indeed take control of Centric Software, making an advance payment to buy the group's remaining shares in 2020 and in 2021. The acquisition of the entire capital will depend on improvements in sales and profitability over the next two years.
Based on its preliminary calculations, the broker estimates that Dassault Systèmes will pay up to 530 million dollars (approximately 450 million euros). It calculates that this agreement will slightly dilute the group's operating margin and EPS, which thereby maintains its fair value of 100 euros per share.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Dassault Systèmes will indeed take control of Centric Software, making an advance payment to buy the group's remaining shares in 2020 and in 2021. The acquisition of the entire capital will depend on improvements in sales and profitability over the next two years.
Based on its preliminary calculations, the broker estimates that Dassault Systèmes will pay up to 530 million dollars (approximately 450 million euros). It calculates that this agreement will slightly dilute the group's operating margin and EPS, which thereby maintains its fair value of 100 euros per share.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.