(Boursier.com) — In a timid rebound of 0.5% to 42.35 euros this Monday, Dassault Systèmes remains constrained in the wake of its violent dropout last week. Among brokers’ opinions, Jefferies is ‘underperforming’ on DS with an adjusted price target of 31 to 33 euros. SG for its part adjusted the slider from 50.5 to 50 euros (‘buy’), while JP Morgan lowered its target from 52 to 45 euros (‘overweight’).
Invest Securities had previously returned to ‘purchase’ on the file “given a potential reconstituted after the fall of the stock”. The company’s publication does not lead to a significant change in the broker’s 2024-25 expectations, the stock market reaction reflecting the longer-than-expected recovery of Medidata and a “failure in communication” on this subject… Despite Medidata and a accelerating the adoption of subscription by industrial clients, the group maintains a solid growth profile, with recurrence and increased visibility, according to the broker. The only uncertainty in the short term lies in the next structuring acquisition which could be surprising according to past comments from B.Charles, but it will be necessary to judge on the basis…
For Oddo BHF, the stock market correction was probably amplified by the recent performance of the stock before this publication (+9% in 2024; +40% since October) but it nevertheless seems somewhat exaggerated… Indeed, to the extent that the disappointment of this publication seems solely attributable to Medidata, the fact that DSY loses 6.5 billion euros of market capitalization amounts to destroying nearly 70% of the value of this asset (the broker estimated a fair value of 9 to 10 billion euros for Medidata before this publication).
Certainly, part of the derating is certainly also linked to a more general erosion of market confidence in DSY but we should also give credit to the excellent execution in the activities of Industrial Innovation… To ‘outperform’ on the file, the analyst is now targeting 53 euros.
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