Nomura Securities Maintains a 'Buy' on SAP AG (SAP); Scooping Up Ariba

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Nomura Securities maintains a 'Buy' on SAP AG (NYSE: SAP) price target of EUR58.00.

Analyst, Rick Sherlund, said, "SAP announces the acquisition of Ariba (Nasdaq: ARBA) for $4.3bn, $45/share, a 20% premium to Monday’s close. We believe an acquisition of this style is consistent with the company’s stated goal of achieving €2bn in cloud revenues by 2015 through a combination of organic and inorganic means. SAP’s cloud initiative, in conjunction with HANA and mobility, form the three pillars of the company’s growth strategy...The stock is currently selling for 15x and 13x our 2013E."

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 $58.69 yesterday, with a 52 week range of $47.39-$72.52.

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