Citi analyst Amit Harchandani upgraded SAP to Buy from Neutral with a price target of EUR 150, up from EUR 120. The analyst cites the company’s "increasingly disciplined execution," greater confidence in the credibility of its medium-term roadmap refresh, and "enhanced relative investment" given SAP’s defensive credentials and capital allocation optionality for the upgrade. The stock’s valuation is not cheap, but its positioning suggests modest potential for a further re-rating, the analyst tells investors in a research note.
Published first on TheFly
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