SAP "buy"

31.05.06 - Dresdner Kleinwort Wasser.

LONDON, May 31 (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 feedback from the Sapphire 06 conference in Paris indicates that growth reacceleration for SAP is likely in Europe, with customers consolidating applications in preparation for the ESA Platform. SAP stands to gain given that it has a 36% market share in Europe, the analysts say. The company has introduced incentive structures for its partners to boost mid market sales, Dresdner Kleinwort Wasserstein adds. The company?s share price has recently declined by 15%, the analysts report.