SAP "buy," target price raised

23.07.07 - Dresdner Kleinwort Wasser.

LONDON, July 23 (newratings.com) - Analyst Adam Shepherd of Dresdner Kleinwort reiterates his "buy" rating on SAP AG (SAP). The target price has been raised from ?43 to ?50.

In a research note published this morning, the analyst mentions that the company?s 2Q results have helped in removing the remaining fears regarding SAP witnessing a potential slowdown in its enterprise business. The company is expected to continue to benefit from the high corporate software investment levels in 2H07 and 2008, the analyst says.