TD Cowen analyst Derrick Wood lowered the firm’s price target on SAP (SAP) to $250 from $300 and keeps a Buy rating on the shares. The firm updated its model after enterprise checks were solid but commercial checks were slightly softer quarter-over-quarter which acknowledge new macro uncertainties in energy-related verticals and in ME. Moreover, recent comments by SAP CEO signal new pricing changes that could carry some disruption.
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