BMO Capital lowered the firm’s price target on SAP (SAP) to $245 from $320 and keeps an Outperform rating on the shares. Despite the management’s expressed confidence in meeting or exceeding the all- important Q4 Current Cloud Backlog growth target, SAP missed guidance, the analyst tells investors in a research note. BMO adds it is lowering its FY26 Cloud growth estimates from 26% y/y constant-currency growth to 24% y/y constant-currency growth, the firm added.
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