SAP price target raised to $220 from $204 at JMP Securities

JMP Securities analyst Patrick Walravens raised the firm’s price target on SAP to $220 from $204 and keeps an Outperform rating on the shares. The company reported mixed Q1 results and reaffirmed its 2024 constant currency guidance, the analyst tells investors in a research note. The firm continues to like SAP as an “attractive opportunity for capital appreciation for a number of reasons.” SAP is reaping the benefits of the transformation it has undergone over the last three years and has three main growth drivers, says JMP.