SAP: UBS downgrades stock
(CercleFinance.com) - UBS said on Monday that it had downgraded its rating on the SAP stock to "neutral" (vs.
"buy" previously), having slashed its corresponding target price from 142 euros to 97 euros.
"SAP's new 2025 plan calls for a major shift in ERP consumption patterns", analysts said in their report on the stock.
The added, "We are sceptical and with earnings stagnating in 2021/22 we downgrade to Neutral".
Note that last week, SAP issued a severe profit warning, in addition to targets for 2023 and 2025, which resulted in the share price collapsing almost 25% in just a few days.
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