(CercleFinance.com) – Dassault Systèmes shares were among the biggest risers in the SBF 120 index on Tuesday morning on the Paris Stock Exchange, with the software designer benefiting from an increase in recommendation from Deutsche Bank.
At 11:40 a.m., the stock gained 2.2% to compare with a drop of 0.7% at the same time for the SBF 120.
In a note released in the morning, Deutsche Bank indicated that it had raised its advice on the value from ‘hold’ to ‘buy’, highlighting the weakness of the French group’s valuation.
Despite the recent stock market rebound following the 3rd quarter results, the stock is still trading at a discount of around 20% compared to its highs at the end of 2021, he notes.
Its valuation is thus between 12% and 20% below its five-year averages in terms of PER 2024 and 2025, he adds, where its American competitor PTC recently established new historic highs.
With increasing adoption of the 3DExperience platform expected in automotive, a recovery in sight for Solidworks and a reacceleration expected in vision sciences by 2025, not to mention PMI activity indices which are evolving at levels floors, Deutsche believes this is a good time to be more positive about what it sees as a high-quality leader in the engineering software market.
Its price target thus increases from 40 to 55 euros.
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