Analyst Frederic Boulan from Bank of America Securities reiterated a Buy rating on SAP SE and keeping the price target at €320.00.
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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. Despite some cautious language from management regarding macroeconomic uncertainties and elongated sales cycles, SAP’s recent quarterly results showed a solid performance, particularly in EBIT and free cash flow. Boulan emphasizes SAP’s diversified and defensive business model, which positions it well to navigate these uncertainties.
Looking forward, Boulan forecasts robust growth in cloud revenue, group revenue, EBIT, and free cash flow for 2025, with expectations of further revenue acceleration in 2026 and beyond. The potential for growth is further supported by strong demand in the BDC/AI sectors and the company’s structural operating leverage. Despite a recent decline in share price, Boulan sees significant upside potential, maintaining a price objective of €320, which suggests a 29% increase from the current levels.
In another report released yesterday, Berenberg Bank also maintained a Buy rating on the stock with a €289.00 price target.
0NW4’s price has also changed slightly for the past six months – from EUR261.453 to EUR248.395, which is a -4.99% drop .