SAP: Oddo BHF raises target price
(CercleFinance.com) - While maintaining its 'neutral' opinion on SAP shares, Oddo BHF has raised its target price from E200 to E216, after increasing its 2024-26 EPS estimates by over 3% following the German software publisher's quarterly publication.
While it hails an 'excellent performance', based on the modernization cycle towards S/4 Cloud and the full effect of the restructuring plan, the broker points to only a limited adjustment of targets, justified by the uncertain macroeconomic environment.
Oddo BHF nevertheless believes that SAP shares should continue to perform well in the coming weeks, thanks to the good sales momentum and the visibility offered by the company for both 2024 and 2025.
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The information and analyses published by Cercle Finance are intended solely as decision-making aids 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.
While it hails an 'excellent performance', based on the modernization cycle towards S/4 Cloud and the full effect of the restructuring plan, the broker points to only a limited adjustment of targets, justified by the uncertain macroeconomic environment.
Oddo BHF nevertheless believes that SAP shares should continue to perform well in the coming weeks, thanks to the good sales momentum and the visibility offered by the company for both 2024 and 2025.
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 decision-making aids 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.