(News Bulletin 247) – Jefferies raises its advice on SAP from ‘underperformance’ to ‘hold’, with a price target revised from 105 to 115 euros, considering that negative catalysts, which it had identified on the title of the enterprise software company, have already played.
“For nine months, we argued that the FY2025 guidance update would be disappointing and that SAP seemed expensive compared to Microsoft,” the broker recalls in its note summary.
However, Jefferies underlines that during the last month, the update of the 2025 objectives has passed and that the title of the German group has moved towards a more significant discount compared to its American peer.
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