On Thursday, HSBC lowered its price target for Dassault Systèmes from €50 to €47, while renewing its buy recommendation on the stock.

In a research note, the financial intermediary explains that it has revised its profit forecasts for 2024 and 2025 downwards by 1.6% and 1.9% respectively, following the disappointing annual results published on February 1.

While regretting the volatility of the software group's performance, HSBC believes that its long-term prospects remain intact, highlighting the recent BMW contract win.

In its view, this "important" agreement validates the quality of its offering, while illustrating the opportunities arising from cross-selling.

While the share price has fallen by 13% since the publication, the analyst points out that the PER on which the stock is trading, which has returned to 32.5x for 2024, now appears to him to be "less tense".

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