SAP "buy"

16.06.06 - Dresdner Kleinwort Wasser.

LONDON, June 16 (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 SAP?s closest competitor, Oracle, has pre-announced robust preliminary results for F4Q, with an 18% increase in Database license. Oracle?s results indicate that the software demand trends are robust, the analysts say. Oracle achieved +56% y/y growth in its application business due to pent-up demand within its installed base rather than through a shift in market share, Dresdner Kleinwort Wasserstein.