SAP: leads the DAX after Sapphire, analysts confident

(CercleFinance.com) - SAP shares lead the DAX on Thursday morning, buoyed by favourable analysts' comments following its annual Sapphire conference, in a market context considered buoyant.


Shortly before 11am, shares in Europe's number-one enterprise software company gained almost 5%, returning not far from their all-time highs, while the DAX rose by around 1% at the same time.

Growth is not about to slow down, Berenberg analysts highlighted in a report released this morning, renewing their buy recommendation on the stock, along with a target price of E195.

The broker points out that, at Sapphire, the company stated that it was aiming to accelerate sales growth beyond 2025, with an even more marked improvement in earnings and margins.

It's true that the company has shown undeniable confidence by being more optimistic about its growth prospects, admit Barclays analysts.

Stifel, meanwhile is particularly encouraged by these encouraging forecasts, despite the current lacklustre economic environment.

In general, European technology stocks are clearly in the spotlight today, following last night's record highs on the Nasdaq in the wake of Nvidia.


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