Barclays Steps Aside on SAP AG (SAP); Downgrades to Equalweight

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October 10, 2012 3:57 PM EDT
Get Alerts SAP Hot Sheet
Price: $159.04 -1.61%

Rating Summary:
    25 Buy, 9 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 15 | Down: 12 | New: 12
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SAP AG (NYSE: SAP) is mildly lower Wednesday after Barclays downgraded the software giant from Overweight to Equalweight with a price target of $70.00.

The firm said while downgrade near the end of the quarter may raise concerns "this is not an active call into Q3." The firm also said they have we changed their view on the product cycle.

"SAP has simply hit our price target following a strong run (SAP ADR +33% YTD vs. S&P 500 +15%). With the stock at c. 15x CY13E PE and limited near-term upgrade potential, we see risk/reward as neutral and hence lower our rating to Equal Weight." The firm said they are wait for a more favorable entry point.

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 last traded down 1.4 percent to $68.88.

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