Bernstein analyst Mark Moerdler raised the firm’s price target on SAP to $154 from $144 and keeps an Outperform rating on the shares. Looking back on 2022 and forward to 2023, the firm believes the story becomes much easier to understand and the stock is posed to outperform meaningfully. The driver of outperformance is the revenue and earnings growth that the shift of ERP to the Cloud will generate, Bernstein says.
Published first on TheFly
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