Nomura Securities Maintains a 'Buy' on SAP AG (SAP); Q3 Review

Nomura Securities maintains a 'Buy' on SAP AG (NYSE: SAP) price target of EUR 44.

Nomura analyst, Rick Sherlund, said, "This morning, SAP announced Q3’11 results that were in line with the company’s October 14th pre-announcement and consistent with strong results from Oracle and Accenture (Aug. Q’s) and our positive view on IT spending through Q4. SAP reiterated full-year guidance in its pre-announcement, implying a conservative view on Q4 based on the company’s outperformance in Q3. We will be looking for additional color around this guidance and traction with HANA on the call. Our estimates are under review."

For more ratings news on SAP AG click here and for the rating history of SAP AG click here.

Shares of SAP AG closed at $59.32 yesterday.

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