Analyst Charles Brennan of Jefferies reiterated a Buy rating on Sage Group plc, reducing the price target to p1,320.00.
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Charles Brennan has given his Buy rating due to a combination of factors including the perception that the market is overreacting to the risks associated with the slowing ARR growth of Sage Group plc. While acknowledging that the consensus expectations are high, Brennan believes that the actual risk is minimal and can be quantified in basis points rather than being substantial.
Despite revising the price target, Brennan maintains that Sage Group plc is attractively valued. This valuation, coupled with the belief that the market’s reaction is exaggerated, supports the Buy rating. Brennan’s analysis suggests that the current market conditions present a favorable opportunity for investors.
According to TipRanks, Brennan is a 5-star analyst with an average return of 10.4% and a 62.15% success rate. Brennan covers the Technology sector, focusing on stocks such as SAP SE, Temenos, and Capgemini SE.
In another report released on September 5, Kepler Capital also maintained a Buy rating on the stock with a p1,500.00 price target.