Deutsche Bank downgrades its recommendation on Dassault Systèmes from 'buy' to 'hold', with a price target lowered from 52 to 36 euros, seeing the risk of the French enterprise software company resetting its short-term forecasts.

Although they account for only 20% of the business, life sciences (mainly Medidata) have substantially underperformed in recent quarters, and their impact has been felt on sales", the broker points out.

While it believes that a rebound seems more likely than not, Deutsche Bank considers that 'current forecasts for 2024 and medium-term targets are under threat and need to be reset, particularly for life sciences'.

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