SAP Stock Remains a Top Pick Despite Price Target Cut
SAP SE (NYSE:SAP) is one of the AI Stocks Every Investor Should Watch. On September 22, BofA Securities analyst Frederic Boulan lowered the price target on the stock to EUR316.00 (from EUR320.00) while maintaining a Buy rating.
Despite shares underperforming the SX8P by 5pp since Q2 earnings in July, the firm has reiterated SAP as a large cap top pick. The firm believes that SAP’s long-term growth is structural and durable.
SAP’s structural growth is seen driven by both software upgrade and infrastructure migration cycles. SAP is also considered an artificial intelligence beneficiary due to its critical data ownership holding monetization potential through its broad AI product set including SAP Joule and Analytics…
