SAP "buy," target price reduced

30.04.08 - UniCredit Markets & Investment Banking

LONDON, April 30 (newratings.com) - Analyst Knut Woller of UniCredit Markets & Investment Banking maintains his "buy" rating on SAP AG (SAP). The target price has been reduced from ?50 to ?42.

In a research note published this morning, the analyst mentions that the company has posted its 1Q08 results short of the consensus mainly on account of lower-than-expected license revenues. There is a possibility of SAP missing its growth targets for the full year, the analyst says.