Dassault Systemes: Jefferies still steering clear
(CercleFinance.com) - Jefferies maintains its Underperform rating on Dassault Systemes shares, with a target price of E33 (cp: E36, -0.
2%).
"An expert call with a major Solidworks reseller highlighted 4Q22 pressures and major upcoming price changes," the analyst says, for whom the implications for the forecast are "hard to read, but the scope for quarterly volatility appears to be increasing".
"Following strong years in 2021/2 (+13-15%), our expert was expecting slower growth in 2023 (c10%). In terms of quarter-to-date trading, the expert commented they are currently trending behind expectations, with some macrodriven customer caution. However, the third month of the quarter, i.e. March for 1Q, is always the most important, so there is still time to catch up," Jefferies said.
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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.
2%).
"An expert call with a major Solidworks reseller highlighted 4Q22 pressures and major upcoming price changes," the analyst says, for whom the implications for the forecast are "hard to read, but the scope for quarterly volatility appears to be increasing".
"Following strong years in 2021/2 (+13-15%), our expert was expecting slower growth in 2023 (c10%). In terms of quarter-to-date trading, the expert commented they are currently trending behind expectations, with some macrodriven customer caution. However, the third month of the quarter, i.e. March for 1Q, is always the most important, so there is still time to catch up," Jefferies said.
Copyright (c) 2023 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.