SAP AG (SAP): Take Profits Ahead Of Earnings - Cowen
- Wall Street hits new high as post-election rally roars ahead
- ECB to scale back asset buys as it extends to end-2017
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Oil rises above $50 despite doubts over OPEC output cut
- Pre-Open Stock Movers 12/08: (VYGR) (TLRD) (LULU) Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Cowen analyst, Derrick Wood, reiterated his Outperform rating on shares of SAP AG (NYSE: SAP) after partner checks are were cautious than last quarter with many citing delays due to US election uncertainty. The analyst also thinks SAP is seeing more seasonality in its business.
With the stock up 12% since 2Q's beat, the analyst thinks investors may want to take NT some profits. This cautious stance on the stock does not imply the bigger picture isn't bullish. The analyst thinks that the company's medium-term product cycle remains strong and that 4Q should be better positioned for seasonal strength.
No change to the price target of $93.
Shares of SAP AG closed at $88.61 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UBS Cuts Price Target on SecureWorks Corp. (SCWX) to $13
- Lululemon Athletica (LULU) PT Raised to $75 at Oppenheimer
- Tiffany & Co. (TIF): Growth Should Accelerate in '17 - Cowen
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesCowen & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!