Barclays raised the firm’s price target on SAP (SAP) to $348 from $322 and keeps an Overweight rating on the shares following the Q3 report. While the company’s cloud revenue guidance at the low-end of estimates and stronger decline in the software business remove some upside to fiscal year revenue, a more upbeat tone on the macro environment and the pipeline Q4 suggest that the business remains on track to accelerate revenue growth further next year, the analyst tells investors in a research note.
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