Barclays Reiterates an 'Overweight' on SAP AG (SAP); Enterprise App Store

Barclays reiterates an 'Overweight' on SAP AG (NYSE: SAP) price target raised from $66 to $70.

Analyst, Raimo Lenschow, said, "We argue SAP is developing the next generation application infrastructure on in-memory and cloud technology. Part of the platform will be open and SAP will encourage 3rd parties to use this as a development platform - i.e. an Enterprise App Store. This supports our product cycle thesis and license growth of 10-15% p.a. through 2015. Q1 was clearly a shock, but we view this as fixable and therefore reiterate our 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 $58.53 yesterday.

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