SAP "buy"

13.03.06 - Dresdner Kleinwort Wasser.

LONDON, March 13 (newratings.com) - Analysts at Dresdner Kleinwort Wasserstein maintain their "buy" rating on SAP (SAP-EUR). The target price is set to ?210.

In a research note published this morning, the analysts mention that the company is benefiting from the recovery in IT spending in Germany, which in turn is being driven by the upper end of the mid-market. It is essential for SAP?s license sales growth in Germany to return to double digits if the company has to achieve robust license sales growth in the long term, the analysts say.