(CercleFinance.com) – Jefferies reaffirms its ‘buy’ recommendation on SAP and raises its price target from 205 to 210 euros, judging that ‘in a sector with mixed activity messages, SAP stands out for its product cycle which is undoubtedly more important than the macro’.
‘With management having recently highlighted improving sales pipelines, we believe the second quarter results will provide reassurance on the cloud migration and overall growth prospects,’ says the broker.
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