(News Bulletin 247) – UBS reaffirms its ‘buy’ recommendation and its target price of 140 euros (i.e. a potential upside of 7%) on SAP, the day after the announcement of the acquisition of LeanIX by the publisher German software packages.
According to the broker, this operation at more than one billion euros “is fully in line with the growing emphasis placed by the group on the potential of its platform with BTP (Business Technology Platform)”.
In the summary of its research note, UBS also highlights comments from SAP management that it says ‘remain robust on demand despite the macroeconomic backdrop’.
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