SAP "overweight"

15.01.08 - J.P. Morgan Securities

LONDON, January 15 (newratings.com) - Analyst Manoj Singla of JP Morgan maintains his "overweight" rating on SAP AG (SAP).

In a research note published this morning, the analyst mentions that the company has reported its preliminary 4Q07 results ahead of the estimates and the consensus. SAP?s license revenues rose by 18% constant currency and software and software-related revenues grew by 17% constant currency in 4Q07 and 2007, the analyst says. The results suggest healthy demand conditions and sustained robust execution by the company, JP Morgan adds.