BMO Capital raised the firm’s price target on SAP (SAP) to $307 from $265 and keeps an Outperform rating on the shares. The company reported a solid quarter, and the firm’s 2025 constant-currency revenue growth estimates are moving modestly higher, the analyst tells investors in a research note. Given that cloud conversions drive a majority of growth however, the extension of the 2030 deadline to 2033 for customers to transition to the cloud could be a headwind to growth, BMO added.
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