Jefferies Raises Price Target on SAP AG (SAP)

Jefferies raised their price target on SAP AG (NYSE: SAP) from $60 to $65 but is keeping their Hold rating ahead of earnings.

The firm states, "We are generally positive on 1Q11 earnings for our group. We think application software is in the sweet spot of the cycle and our field work has been positive to varying degrees for companies under coverage. Our only hesitation is that early strong reports in software has led to positive share movements and clearly more of the good news is priced in now."

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 $65.45 yesterday.

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