SAP "hold"

30.03.07 - ING Financial Markets

LONDON, March 30 (newratings.com) - Analysts at ING Financial Markets maintain their "hold" rating on SAP (SAP). The 12-month target price is set to ?42.

In a research note published this morning, the analysts mention that the company has announced several changes at its executive board, lower management level, and the formation of an executive council, comprising of corporate officers. These changes indicate a decisive shift in SAP?s corporate culture, the analysts say. The company is expected to post its 1Q07 product revenue growth, scheduled to be reported on April 20, at 8%, ING Financial Markets adds.