SAP : Jefferies raises target price

(CercleFinance.com) - Jefferies confirms its 'buy' recommendation on SAP shares and raises its target price for them a notch, from E200 to E205, pointing to information in the annual report suggesting that growth in the current cloud order book (CCB) should remain broadly constant at 27%.


Further down the income statement, the evolution of earnings definitions opens the door to some variability, the broker adds, which nonetheless expects investors to be "sympathetic" and for the dossier to remain focused on CCB.


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