SAP price target raised to $154 from $144 at Barclays

Barclays raised the firm’s price target on SAP to $154 from $144 and keeps an Overweight rating on the shares. SAP’s results “might not have stood out to a casual observer” as its guidance was reiterated and cloud backlog growth came in line with the prior quarter and management commentary, the analyst tells investors in a research note. However, against a backdrop of soft data points, challenging guidance math and increasingly nervous positioning, “it was more than enough,” says the firm.