BMO Capital lowered the firm’s price target on SAP (SAP) to $300 from $307 and keeps an Outperform rating on the shares. The firm remains positive on the company’s investment story given the improving technology platform and high visibility to revenues, though it also does not think SAP is immune from the weakening macro backdrop, the analyst tells investors in a research note. BMO adds however that it continues to believe that its free cash flow estimate on SAP has upside tension.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SAP:
- SAP AG’s Growth Potential and Resilience: Buy Rating Affirmed Amidst Macroeconomic Challenges
- SAP AG (SAP) Unveils Dividend Details for Q2: Mark Your Calendar!
- SAP SE Positioned for Growth: Buy Rating Affirmed Amid Strong Cloud Bookings and Strategic Restructuring
- Jefferies cuts SAP target, sees ‘relative safe haven’ into Q1
- DA Davidson technology analysts hold an analyst/industry conference call