SAP: Bryan Garnier still a buyer; adjusts target
(CercleFinance.com) - Bryan Garnier has reinstated its "buy" rating on SAP, having inched up its fair value for the share from 112 euros to 114 euros, to take into account recent exchange rate developments in its DCF valuation of the German software package publisher.
With the Sapphire Now 2018 User Conference (5-7 June) currently being held in Orlando, the broker highlights the key points from the group's analyst meeting and discussions between SAP and key members of the ecosystem.
Bryan Garnier emphasizes that “the launch of C/4HANA is far more than simple CRM rebranding; 2) there is room for sustainable strong cloud revenue growth; 3) (a) margin turnaround is confirmed.”
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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.
With the Sapphire Now 2018 User Conference (5-7 June) currently being held in Orlando, the broker highlights the key points from the group's analyst meeting and discussions between SAP and key members of the ecosystem.
Bryan Garnier emphasizes that “the launch of C/4HANA is far more than simple CRM rebranding; 2) there is room for sustainable strong cloud revenue growth; 3) (a) margin turnaround is confirmed.”
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.