SAP: Morgan Stanley becomes more cautious
(CercleFinance.com) - Shares in SAP are down 2.
3% at 92.4 euros on Thursday after Morgan Stanley downgraded the stock from "overweight" to "equal weight".
"Our checks have been mixed for the fourth quarter and we see some risk of a bump in the road for S/4 Hana migration," the broker said, also cutting its target price from 111 euros to 105 euros.
Morgan Stanley thinks that the shares look less attractively valued when taking into account items such as the group's heavy capital expenditure.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
3% at 92.4 euros on Thursday after Morgan Stanley downgraded the stock from "overweight" to "equal weight".
"Our checks have been mixed for the fourth quarter and we see some risk of a bump in the road for S/4 Hana migration," the broker said, also cutting its target price from 111 euros to 105 euros.
Morgan Stanley thinks that the shares look less attractively valued when taking into account items such as the group's heavy capital expenditure.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.