SAP: stock falls after UBS downgrade
(CercleFinance.com) - SAP shares are down almost 2% on Tuesday after UBS downgraded its rating on the German enterprise software maker, seeing "limited upside potential.
"
UBS cut SAP from "buy" to "neutral," and raised its target price from 98 euros to 105 euros.
The broker said it expects "in-line" first-quarter results and noted that while cloud margins are now on an improving trend, the share has a "demanding" valuation.
In late morning trading on the Frankfurt Stock Exchange, SAP shares were trading 1.7% lower at 99.8 euros, underperforming other European technology stocks, which were fairly flat.
Copyright (c) 2019 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.
"
UBS cut SAP from "buy" to "neutral," and raised its target price from 98 euros to 105 euros.
The broker said it expects "in-line" first-quarter results and noted that while cloud margins are now on an improving trend, the share has a "demanding" valuation.
In late morning trading on the Frankfurt Stock Exchange, SAP shares were trading 1.7% lower at 99.8 euros, underperforming other European technology stocks, which were fairly flat.
Copyright (c) 2019 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.