SAP: shares up almost 2% after UBS raises target price
(CercleFinance.com) - German enterprise software maker SAP shares are one of the top risers on the Euro STOXX 50 index, up almost 2% after UBS raise its target price to 130 euros from 125 euros.
"We expect fourth-quarter to show accelerating cloud adoption, with some risk to licences," say analysts at the Swiss investment bank in a note.
UBS analysts, who maintain a "neutral" rating on the shares, however said in a report that they see 2020 EBIT goals inch ahead of consensus.
SAP shares are currently up over 1.8% at 123 euros.
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