Dassault Systèmes: Invest Securities downgrades stock

(CercleFinance.com) - Invest Securities has downgraded Dassault Systèmes from "neutral" to "sell", although has increased its target price for them from 32 euros to 35 euros (current price: 41.
8 euros, +0.3%), after the stock's recent outperformance triggered at the start of the month with falling interest rates, which was extended after the group's quarterly publication.

Even though the company's model (70% of recurring sales) and its client/market diversification make it partially immune to macro risk, analysts do not believe that the stock's current valuation incorporates any downward revision of expectations.

While they say that revisions should mainly concern 2023-24, the broker points to a risk of disappointment that has become excessive, even though the strategy and medium-term prospects still appear to be as attractive.



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