SAP "buy"

05.07.07 - Dresdner Kleinwort Wasser.

LONDON, July 5 (newratings.com) - Analysts at Dresdner Kleinwort maintain their "buy" rating on SAP AG (SAP-EUR). The target price is set to ?43.

In a research note published yesterday, the analysts mention that while admitting that some inappropriate downloads of Oracle's intellectual property were made, SAP said the violation is isolated to its subsidiary TomorrowNow. Reports of Dr. Klaus Tschira reducing his stake in SAP to about 5%, which exerted pressure on the company?s share price, are incorrect, the analysts say. Any financial penalty for SAP related to the ongoing Oracle lawsuit would be a nonrecurring item, Dresdner Kleinwort adds.