T2 sans surprise mais une acquisition intéressante - ACHAT, OC 80€
Sauf élément nouveau lors de la réunion de ce matin à 10h, cette publication T2 ne devrait pas engendrer de révisions majeures d’estimations de notre part ou de la part du consensus. L’acquisition de CST pour 220m€ pourrait être bien perçue, renforçant l’offre du groupe sur un marché de la simulation porteur. L’impact relutif sur 2017-18 devrait en revanche être limité. Nous réitérons notre opinion à ACHAT avec un objectif de 80€.Dassault Systemes provides software products & consulting services. Co.'s software applications allow businesses to digitally define, simulate products, the processes & resources required to manufacture, maintain & recycle them. Co. also provides services, principally to large customers. These services comprise mainly consulting services in methodology for design, deployment & support, training services & engineering services. Co.'s activities can be divided into two segments: the PLM market supports product development, production, maintenance & lifecycle management; & the Mainstream 3D market, which is primarily focused on product design.
Since 2006, Invest Securities has become one of the leading players in investment services for funds and managers, to whom we offer a global and personalised service. Our track record differentiates us and proves our leadership in numerous promising sectors like property and growth companies.
Consisting of 13 different profiles (pharmacist, engineer, financier, etc), the DNA of our financial analysis office is value added and sector expertise. Through daily monitoring and detailed analyses of companies and sectors, we seek to provide a differentiating vision of our 120 stocks followed. Our ideas are circulated every day to nearly 1,000 professionals.
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