SAP: Jefferies raises target price

(CercleFinance.com) - Jefferies confirms its 'buy' recommendation on SAP shares, while raising its target price for them from E225 to E230, seeing the German group as one of the few global software companies with a product cycle that is currently stronger than the macro.


With Q3 conference attendances already setting a positive tone, we expect future results to be solid, the broker summarises.

In a sector where there is little confidence in forecasts, Jefferies considers that SAP remains one of the best-positioned names. It updates its expectations to take account of currency effects, leading to negligible changes in forecasts.


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