Nomura Securities Maintains a 'Buy' on SAP AG (SAP); Q4 First Look

Nomura Securities maintains a 'Buy' on SAP AG (NYSE: SAP) price target of $50.00.

Analyst, Rick Sherlund, said, "SAP announced Q4’11 results that were in line with the company’s January 13th announcement of its preliminary results, which represented 8% upside to license revenue expectations driven by strong HANA sales. The 2012 guide of 8%-10% growth in software and related (SSRS) revenue (excluding SFSF) is fine, brackets the Street at 9%. Less operating margin expansion being implied, but Street EPS still likely moves higher. Management also noted that the company is well positioned to exceed the €20bn revenue and 35% operating margin targets by 2015."

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 $58.06 yesterday.

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