SAP "buy"

21.03.06 - Dresdner Kleinwort Wasser.

LONDON, March 21 (newratings.com) - Analysts at Dresdner Kleinwort Wasserstein maintain their "buy" rating on SAP AG (SAP-EUR). The target price is set to ?210.

In a research note published this morning, the analysts mention that the company's growth is likely to be driven this year by further market share gains. Although Oracle recently reported disappointing license sales growth, sales are likely to have been stable industry-wide this year, the analysts say. Dresdner Kleinwort Wasserstein expects SAP to witness 17% organic license sales growth in the current year.