SAP "hold," target price raised

07.02.06 - ING Financial Markets

NEW YORK, February 7 (newratings.com) - Analysts at ING Financial Markets maintain their "hold" rating on SAP (SAP-EUR), while raising their estimates for the company. The 12-month target price has been raised from ?161.3 to ?174.0.

In a research note published this morning, the analysts mention that the company has reported robust 4Q05 results and issued an impressive guidance for FY06. According to the analysts, SAP is gaining market share and its performance in the US and Asia Pacific is impressive. The EPS estimates for 2006 and 2007 have been raised from ?5.77 to ?6.02 and from ?6.53 to ?7.01, respectively.