HAMBURG (dpa-AFX) - Private bank Berenberg has downgraded SNP from "buy" to "hold" on valuation grounds, but raised its price target from 18 to 25 euros. Analyst Wolfgang Specht pointed out in a study available on Wednesday that the share price of the software provider and IT consultant had recovered significantly from its lows at the beginning of November and had risen by 70 percent since then. Among other things, investors had probably rewarded a major order from a global brewery group or the fact that Jens Amail would move from SAP to SNP in mid-January and become the new CEO, Specht wrote. Now, however, the short-term price drivers are limited./ck/bek

Publication of the original study: 03.01.2023 / 17:10 / GMT First disclosure of the original study: Date in study not specified / Time in study not specified / Time zone in study not specified

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