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01 Feb 2021
SAP: On the RISE again | BUY | EUR133 VS. EUR127 (+27%)
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SAP: On the RISE again | BUY | EUR133 VS. EUR127 (+27%)
SAP - BUY | EUR133 VS. EUR127 (+27%)
On the RISE again
We reiterate our Buy rating and raise our TP to EUR133 from EUR127
SAP is ready for a reacceleration in cloud growth after Q1 2021
RISE with SAP is expected to be strong cloud growth contributor
Free cash flow guidance for 2021 is not disappointing in our view