SAP price target raised to EUR 135 from EUR 122 at Baader Helvea

Baader Helvea analyst Knut Woller raised the firm’s price target on SAP to EUR 135 from EUR 122 and keeps an Add rating on the shares. The firm notes SAP was off a solid start to the year, beating consensus in terms of revenues, but also in terms of margins supporting Baader’s investment thesis that the company entered the harvesting phase after two years of transition.