Credit Suisse Assumes SAP AG (SAP) at Outperform
Get Alerts SAP Hot Sheet
Rating Summary:
21 Buy, 10 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Credit Suisse assumes coverage on SAP AG (NYSE: SAP) with a Outperform rating and Eu90 price target and adds the stock to its Focus List following solid results driven by S4.
Analyst C. Brennan commented, "SAP has delivered better than expected results, with cloud and software growth of 11%, 1% better than VARA consensus. Behind the details, licenses grew 10%, 6% ahead of consensus. Furthermore, this licence outperformance flowed through to the bottom line such that operating profits were also 5% ahead of consensus, reflecting 50bps of margin expansion. Meanwhile, the cloud performance continues to be strong, with cloud revenues growing 33%. Overall, we think this is a solid performance that starts to de-risk the second half. As a result, we reiterate our Outperform rating."
For an analyst ratings summary and ratings history on SAP AG click here. For more ratings news on SAP AG click here.
Shares of SAP AG closed at $79.32 yesterday.
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