SAP Stock Rated Buy Despite Price Target Cut, Cited as Long-Term Growth Leader

SAP SE (NYSE:SAP) ranks among the best set-it-and-forget-it stocks to buy. On June 24, Jefferies analyst Charles Brennan lowered the price target for SAP SE (NYSE:SAP) from €300 to €290 and reaffirmed his Buy rating on the company’s shares. The update came as a result of several factors that demonstrate SAP SE’s dominant market position. The market appears to be ready for a positive outlook, he says, as the buy-side has already taken into consideration recent changes in free cash flow and foreign exchange expectations.

SAP Stock Rated Buy Despite Price Target Cut, Cited as Long-Term Growth Leader

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Additionally, Brennan highlights that SAP SE (NYSE:SAP) is a prominent growth story in its industry. The company’s capacity to produce steady and long-lasting growth confirms his belief in its long-term prospects.

SAP SE (NYSE:SAP) is an enterprise software company based in Germany. It develops and provides both on-premises and cloud-based solutions to assist companies in managing human resources, supply chain management, finance, and customer experience.

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