SAP selloff brings ‘attractive buying opportunity,’ says JPMorgan

JPMorgan says that with SAP (SAP) shares down 11% from peak and 5% year-to-date, an “attractive buying opportunity has emerged.” The stock has been “overly dragged down” by a number of situations in the U.S. software sector, but these have “various idiosyncratic factors” and thus limited read-through to SAP, the analyst tells investors in a research note. As a result, JPMorgan thinks the pullback in SAP shares is overdone. It reiterates an Overweight rating on the name with an EUR 300 price target