SAP "buy"

02.03.06 - Merrill Lynch

LONDON, March 2 (newratings.com) - Analyst Raimo Lenschow of Merrill Lynch maintains his "buy" rating on SAP (SAP-EUR). The target price is set to ?200.

In a research note published this morning, the analyst mentions that the company?s margin leverage is expected to improve from 2006 onwards. SAP is likely to launch several products in the forthcoming year, which is expected to significantly boost its license growth over the two to three years, the analyst says.