Software: How have industrial software companies fared since early 2020?
SoftwareHow have industrial software companies fared since early 2020?
Since early 2020: growth has been faster for US Co. than for EU ones
Q1 results takeaway: growth is still sluggish but improving
Acceleration of growth: generally not observed nor guided thus far
Valuation multiples have nonetheless expanded since the beginning of 2020
Are current valuation multiples sustainable?
We confirm our Conviction Buy rating on Nemetschek
Dassault Systèmes: Buy reiterated
Materialise : Buy reiterated
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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