SAP "buy"

23.06.06 - Dresdner Kleinwort Wasser.

LONDON, June 23 (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 the company?s 4Q results were ahead of the estimates, with total revenue and applications license growth of 25% and 56% y/y, respectively. SAP?s enterprise application software demand remains robust, the analysts say. The analysts believe that SAP remains the default choice for new customers and occupies a leading position in the market.