Stifel announced on Wednesday that it had lowered its target price for Equasens from €75 to €66, while reiterating its 'hold' recommendation on the stock.

In a study devoted to the sector of technological solutions for the healthcare sector, the consultancy said it was increasingly cautious about the group's business, anticipating a 'difficult' year in 2024.

While acknowledging that the software developer has posted solid performances in recent years, Stifel believes that the economic environment for pharmacies - its main outlet with around 75% of sales - is set to become considerably darker as a result of the digital Segur.

The program, already a low contributor in terms of business, could even penalize short and medium-term prospects by slowing down the implementation of the high value-added functionalities Equasens has in its portfolio, it argues.

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