DASSAULT SYSTÈMES : Deutsche Bank upgrades to buy
Despite the recent stock market rebound following Q3 results, the stock is still trading at a discount of around 20% to its highs at the end of 2021, it points out.
Its valuation is thus between 12% and 20% below its five-year averages in terms of PER 2024 and 2025, he adds, where its US rival PTC recently set new all-time highs.
With increasing adoption of the 3DExperience platform expected in the automotive sector, a turnaround in sight for Solidworks and a re-acceleration to be expected in the visual sciences by 2025, not to mention PMI activity indices moving at record lows, Deutsche believes it's a good time to be more positive on what it sees as a high-quality leader in the engineering software market.
Its price target has therefore been raised from €40 to €55.
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