In a report released today, Frederic Boulan from Bank of America Securities reiterated a Buy rating on SAP SE, with a price target of €301.00.
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Frederic Boulan has given his Buy rating due to a combination of factors that highlight SAP SE’s strong performance and future potential. The company’s recent quarterly results have restored confidence, showing healthier than expected growth in cloud bookings and EBIT, which exceeded market expectations. Additionally, management’s optimistic outlook on demand and bookings, particularly with the adoption of AI, further supports the positive sentiment.
Looking forward, Boulan anticipates continued growth in cloud revenue and EBIT, with a solid path to revenue acceleration in the coming years. The company’s strategic focus on leveraging AI and maintaining strong competitive positioning without pursuing data center buildouts adds to its appeal. With a price objective set at €301, implying a 27% upside potential, the Buy rating reflects high revenue visibility, structural operating leverage, and potential for cash returns.
In another report released today, Barclays also maintained a Buy rating on the stock with a €300.00 price target.