SAP "underweight"

14.04.07 - J.P. Morgan Securities

LONDON, April 14 (newratings.com) - Analyst John Segrich of JP Morgan maintains his "underweight" rating on SAP AG (SAP). The target price is set to ?32.

In a research note published yesterday, the analyst mentions that the company is likely to report its results for the latest quarter in-line with expectations. SAP is unlikely to address the fundamental concerns of a slowing US market and the company?s mid-market initiatives, the analyst says. SAP has little mid-market experience, which is more competitive and price sensitive than the company?s core business, JP Morgan adds.