SAP downgraded to "sell"

05.04.06 - Jyske Bank

LONDON, April 5 (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 dated March 23 and published yesterday, the analyst mentions that investor expectations regarding the company?s performance in 2006 are highly aggressive, despite the company posting robust results for 2005. The analysts expect SAP to achieve the market expectations if it does not face competition or difficult issues in 2006. The company?s stock is trading at a price significantly ahead of the target price, Jyske Bank adds.