Dassault Systèmes: share price falls, Deutsche reduces target
April 02, 2024 at 04:15 am EDT
Share
Dassault Systèmes is one of the SBF 120's biggest decliners on Tuesday morning on the Paris Bourse, with the software maker's stock penalized by a note from Deutsche Bank lowering its forecast for the group.
In a note, the broker says it expects a difficult start to the year for the industrial software specialist, which will publish its first-quarter results on April 25.
In its view, the good performance of the automotive-related businesses and the '3DExperience' platform is offset by the slower-than-expected recovery of the life sciences and healthcare businesses.
Deutsche is therefore reducing its earnings forecast for the first quarter, as for the full 2024 financial year, by 1%, and is lowering its price target from €55 to €52.
The broker nevertheless remains Buy on the stock.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
Dassault Systèmes SE is the world leader in developing and marketing product life cycle management software. Net sales break down by family of products and services as follows:
- software (90.1%): product process optimization software and 3D design software for the following markets: general mechanical, automotive, aeronautics, consumer goods, electricity, and electronics, and factory design and naval construction. In addition, the group offers update and technical support services;
- services (9.9%): technological consulting and training services.
Net sales are distributed geographically as follows: France (15.1%), Germany (4.3%), Europe (10%), the United States (51.7%), Americas (0.9%), Japan (6.6%) and Asia (11.4%).