SAP "buy"

29.11.07 - UBS

LONDON, November 29 (newratings.com) - Analysts at UBS maintain their "buy" rating on SAP AG (SAP-EUR). The 12-month target price is set to ?45.

In a research note published this morning, the analysts mention that the company has indicated that the acquisition of Business Objects would improve front-end reporting. Sales to non-SAP customers are unlikely to be impacted, provided SAP retains the independence of Business Objects? R&D and salesforce, the analysts say. The company does not expect its sales momentum to be affected by the integration process, which is expected to last for six-to-twelve months, UBS adds.