SAP downgraded to "sell"

29.03.06 - Jyske Bank

LONDON, March 29 (newratings.com) - Analyst Robert Jakobsen of Jyske Bank downgrades SAP (SAP-EUR) from "reduce" to "sell." The target price is set to ?153.

In a research note published this morning, the analyst mentions that the downgrade in the rating is based on valuation. According to Jyske Bank, the company is unlikely to be able to outperform the high investor expectations for 2006.