Sage Group price target lowered to 1,500 GBp from 1,600 GBp at Jefferies

Jefferies lowered the firm’s price target on Sage Group (SGPYY) to 1,500 GBp from 1,600 GBp and keeps a Buy rating on the shares. Macro uncertainty creates a difficult backdrop and few companies are likely to be immune, including Sage, but the firm thinks first half results will “serve as a reminder that recurring revenue models are inherently durable,” the analyst tells investors.