NEW YORK (dpa-AFX Broker) - Analyst firm Jefferies has upgraded SAP from "Hold" to "Buy" and raised its price target from 135 to 190 euros. The continued momentum of the cloud business means that the software company can now expect credible annual growth of 10 to 12 percent compared to the previous range of 8 to 10 percent, analyst Charles Brennan wrote in a study published on Friday. SAP would thus grow in line with US competitors Salesforce, Adobe or Intuit and would no longer have an upper valuation limit in the short term. The valuation of the Walldorf-based company based on free cash flow leads to the higher price target and supports his buy recommendation./edh/tih

Publication of the original study: 01.02.2024 / 11:32 / ET

First dissemination of the original study: 01.02.2024 / 19:00 / ET

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