Exane sees Dassault Systemes five-year targets under pressure
** Exane BNP Paribas cuts Dassault Systemes DAST.PA to "underperform" from "neutral" saying that growing competition and difficulties in ongoing business model transition put the French software provider's five-year targets under pressure
** The brokerage says competition in mass-market software is heating up and the firm is offering heavy price discounts to compete
** "The required acceleration to meet ambitious 5-year targets in Life Sciences is steepening," the brokerage adds
** It also sees risk of disappointment with Q2 results, due on July 25, continuing through 2024 and to 2028
** The stock is down 2% to its lowest since end October and is among top fallers on France's CAC 40 .FCHI and SBF 120 .SBF120 indices
** Out of 23 analysts covering Dassault Systemes, 11 rate it "strong buy" or "buy", eight rate it "hold" and four rate it "strong sell" or "sell"
Reporting by Michal Aleksandrowicz
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