Dassault Systèmes: Q1 15 results above expectations, cautious outook for Q2, FY15 guidance updated on fxNEUTRAL, Fair Value EUR63 (-4%)
This morning Dassault Systèmes reported Q1 15 results above our expectations and the consensus’ average. FY15 company guidance is updated from fx tailwinds, but Q2 15 outlook is a bit cautious in our view. Following a 26% rise over the past 3 months, we expect a limited positive share price reaction in the short term as we estimate Dassault Systèmes’ rosy prospects are fairly valued.
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