SAP: Oddo BHF nudges up TP
(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on SAP shares, edging up its target price from E195 to E198, ahead of the company's Q2 results to be published after trading on Monday 22 July.
The analyst believes that the group should post another solid performance in sales, thanks to the momentum linked to the transition of its installed base to S/4 Hana Cloud.
Analysts expect Q2 sales of E8.22bn, up 9.4% cc. The gap with consensus expectations (+9.8% cc) stems from a more cautious approach to license sales (ODDO BHF: -35% cc vs. VA css: -26% cc), they say.
SAP seems to be in a position to raise its annual guidance slightly, even though the company perceives some signs of wait-and-see attitude on behalf of customers, Oddo BHF concludes.
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The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The analyst believes that the group should post another solid performance in sales, thanks to the momentum linked to the transition of its installed base to S/4 Hana Cloud.
Analysts expect Q2 sales of E8.22bn, up 9.4% cc. The gap with consensus expectations (+9.8% cc) stems from a more cautious approach to license sales (ODDO BHF: -35% cc vs. VA css: -26% cc), they say.
SAP seems to be in a position to raise its annual guidance slightly, even though the company perceives some signs of wait-and-see attitude on behalf of customers, Oddo BHF concludes.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.