NEW YORK (dpa-AFX Broker) - JPMorgan has included the SAP share in its 'Analyst Focus List' of particularly promising stocks. At the same time, the U.S. bank gave the shares 'Positive Catalyst Watch' status and thus expects positive news from the software group in the short term. In addition, analyst Toby Ogg increased the price target from 116 to 119 euros and left the rating at "Overweight". Following robust data from competitors Workday and Oracle, he raised his revenue forecasts for SAP's cloud business. He is now slightly above consensus estimates for 2023 and 2024, the expert wrote in a research note issued Monday. He also expects recent headwinds for the Walldorf-based company to turn into tailwinds in the new year. He continues to view SAP as a "top pick" in the European software sector./edh/tih

Publication of the original study: 06.01.2023 / 17:52 / GMT

First disclosure of the original study: 09.01.2023 / 00:15 / GMT

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