ALBFR Sidetrade SA

Midcap Partners initiate Sidetrade coverage

Midcap Partners initiate Sidetrade coverage
EN
09/10/2020

Underlying

ALBFRSidetrade SA

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Reports on Sidetrade SA

Farid Bitari ... (+3)
  • Farid Bitari
  • Nicolas David
  • Nicolas Thorez
SGE SAGE GROUP PLC
TEMN TEMENOS AG ... (+13)

ODDO : No, AI will not eat incumbent software vendors... on the contra...

While market sentiment has abruptly reversed regarding the AI opportunity for software vendors, we are convinced of the potential of agentic AI in the medium term for the sector, particularly for SAP, which we believe is the best positioned and which we upgrade to Outperform. Nemetschek, Planisware and Sage also seem to offer a good risk/reward trade-off following their recent de-rating. Conversely, we are downgrading Amadeus to Neutral after the reduction in its discount vs peers.

SGE SAGE GROUP PLC
TEMN TEMENOS AG
ALLIX WALLIX GROUP SA
CGM CEGEDIM SA
LSS LECTRA SA
NEM NEMETSCHEK SE
AMS AMADEUS IT GROUP SA CLASS A
ALBFR SIDETRADE SA
SAP SAP SE
TMV TEAMVIEWER AG
DSY DASSAULT SYSTEMES SA
MTRK MOTORK LTD
PLNW PLANISWARE
09/24/25 September 24, 2025 1 EN
Farid Bitari ... (+3)
  • Farid Bitari
  • Nicolas David
  • Nicolas Thorez
SGE SAGE GROUP PLC
TEMN TEMENOS AG ... (+13)

ODDO : Non l’IA ne dévorera pas les éditeurs historiques… au contraire...

Alors que le sentiment du marché s’est brutalement retourné concernant l’opportunité de l’IA pour les éditeurs de logiciels, nous sommes convaincus du potentiel lié à l’IA agentique à moyen terme pour le secteur, notamment pour SAP qui nous semble le mieux positionné et que nous upgradons à Surperformance (vs Neutre). Nemetschek, Planisware et Sage nous semblent également offrir un bon risk/reward suite à leur récent de-rating. A l’inverse, nous dégradons Amadeus à Neutre suite à la nette réduct...

SGE SAGE GROUP PLC
TEMN TEMENOS AG
ALLIX WALLIX GROUP SA
CGM CEGEDIM SA
LSS LECTRA SA
NEM NEMETSCHEK SE
AMS AMADEUS IT GROUP SA CLASS A
ALBFR SIDETRADE SA
SAP SAP SE
TMV TEAMVIEWER AG
DSY DASSAULT SYSTEMES SA
MTRK MOTORK LTD
PLNW PLANISWARE
09/24/25 September 24, 2025 1 FR
Farid Bitari ... (+3)
  • Farid Bitari
  • Nicolas David
  • Nicolas Thorez
BRE MBANK SA
FP TOTAL SE
SGE SAGE GROUP PLC
HEIA HEINEKEN NV
TEMN TEMENOS AG
CA CARREFOUR SA
ALLIX WALLIX GROUP SA
CGM CEGEDIM SA
LSS LECTRA SA
GEBN GEBERIT AG
SLHN SWISS LIFE HOLDING AG
ASM ASM INTERNATIONAL N.V.
NEM NEMETSCHEK SE
AMS AMADEUS IT GROUP SA CLASS A
ALBFR SIDETRADE SA
SAP SAP SE
TMV TEAMVIEWER AG
DSY DASSAULT SYSTEMES SA
MTRK MOTORK LTD
ATCO A ATLAS COPCO AB
PLNW PLANISWARE
09/24/25 September 24, 2025 1 EN
Farid Bitari ... (+2)
  • Farid Bitari
  • Nicolas David
SGE SAGE GROUP PLC
TEMN TEMENOS AG
ALLIX WALLIX GROUP SA
CEN GROUPE CRIT SA
ZVTG ZAVAROVALNICA TRIGLAV D.D.
LXS LANXESS AG
CGM CEGEDIM SA
LSS LECTRA SA
NOEJ NORMA GROUP SE
SLHN SWISS LIFE HOLDING AG
IDIP INSTITUT DE DEVELOPPEMENT INDUSTRIEL SCA
ECV ENCAVIS AG
NEM NEMETSCHEK SE
AMS AMADEUS IT GROUP SA CLASS A
ALBFR SIDETRADE SA
AXS ACCSYS TECHNOLOGIES
SAP SAP SE
TMV TEAMVIEWER AG
KTA KNAUS TABBERT
DSY DASSAULT SYSTEMES SA
MTRK MOTORK LTD
ORP ORPEA
PLNW PLANISWARE
FERGR FERRARI GROUP PUBLIC LIMITED COMPANY
09/24/25 September 24, 2025 1 EN
Farid Bitari ... (+3)
  • Farid Bitari
  • Nicolas David
  • Nicolas Thorez
BRE MBANK SA
FP TOTAL SE
SGE SAGE GROUP PLC
HEIA HEINEKEN NV
TEMN TEMENOS AG
CA CARREFOUR SA
ALLIX WALLIX GROUP SA
CGM CEGEDIM SA
LSS LECTRA SA
GEBN GEBERIT AG
SLHN SWISS LIFE HOLDING AG
ASM ASM INTERNATIONAL N.V.
NEM NEMETSCHEK SE
AMS AMADEUS IT GROUP SA CLASS A
ALBFR SIDETRADE SA
SAP SAP SE
TMV TEAMVIEWER AG
DSY DASSAULT SYSTEMES SA
MTRK MOTORK LTD
ATCO A ATLAS COPCO AB
PLNW PLANISWARE
09/24/25 September 24, 2025 1 FR

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