Lectra : Orders appear to have bottomed out with stronger fundamentals for 2024, Outperform vs Neutral, TP € 36.5 vs € 26
>Orders appear to have hit a low in H2 2023 - Two factors led to a positive change in our opinion at the end of our Forum: now more favourable momentum for orders and a more aggressive message on margin growth. After six straight quarters of decline (assuming Q4 2023), Lectra does not expect orders to fall in 2024, as a low appears to have been hit. Management was upbeat about the automotive sector, with a strong pipeline and now good visibility after Q4 was plagued b...Lectra markets full-line solutions comprising the sale of software, CAD/CAM equipment and associated services (technical maintenance, support, training, consulting, sales of consumables and spare parts). Co. addresses an array of global markets, including fashion (apparel, accessories, and footwear), automotive (car seats and interiors, airbags), and furniture, as well as other industries, such as the aeronautical and marine industries. Its technology enables its customers to design, develop and manufacture their products (garments, seats, airbags, etc.). For the fashion industry, Co.'s software applications also enable the management of collections and cover the entire product lifecycle.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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