SAP: Oddo BHF says buy, raises target price
(CercleFinance.com) - This morning, an analyst at Oddo BHF announced that he is raising his target price for SAP shares, noting that the company is still ambitious regarding its margins.
The broker, which has a buy rating on the share, has thus increased its corresponding target price from 120 euros to 130 euros, which represents upside potential of 14%.
SAP is one of the few software publishers to be trading at multiples that are beow pre-crisis levels (16.5x VE/EBIT fwd 12 months vs. 17.5x last November) and is trading at an historically high discount of 36% compared to its peers, Oddo BHF notes.
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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 broker, which has a buy rating on the share, has thus increased its corresponding target price from 120 euros to 130 euros, which represents upside potential of 14%.
SAP is one of the few software publishers to be trading at multiples that are beow pre-crisis levels (16.5x VE/EBIT fwd 12 months vs. 17.5x last November) and is trading at an historically high discount of 36% compared to its peers, Oddo BHF notes.
Copyright (c) 2020 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.