SAP price target raised to $308 from $286 at Barclays

Barclays raised the firm’s price target on SAP (SAP) to $308 from $286 and keeps an Overweight rating on the shares. The company set its guidance conservatively and, following the strong Q1, “this provides some buffer to worsening macro” environment, the analyst tells investors in a research note. The firm says that unless the macro deteriorates significantly, it continues to see SAP’s fiscal year targets as achievable. This “near-term resilience, combined with a solid structural growth outlook, makes SAP stand out,” contends Barclays.