(CercleFinance.com) – Stifel reaffirms its ‘buy’ recommendation on SAP with a price target raised from 170 to 195 euros, saying it is enthusiastic about the vigorous publication of the German business software publisher for the last quarter of 2023 .
The broker highlights, in this publication, the acceleration of growth in the cloud to +25%, driven by S/4HANA and BTP which together represented around 45% of SAP’s cloud revenues, and which increased by respectively 46% and 61%.
‘Elsewhere, CCB and TCB growth accelerated to +27% and +39% respectively, reinforcing our confidence in growth momentum above 20% in the medium term for SAP Cloud,’ continues Stifel.
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