SAP shares climbed on Monday after JPMorgan raised its rating on the German software company to Overweight and lifted its price target to 275 euros, according to Finanzen.net. The upgrade marked a more optimistic stance from the US bank toward the Walldorf-based group.
The move was reported across several German financial outlets, including T-Online, Wallstreet Online and Investing.com Deutsch, all citing the same target of 275 euros. Investing.com Deutsch noted the upgrade came despite recent turbulence among AI-related stocks.
Part of JPMorgan's more positive view rests on progress in SAP's artificial intelligence offerings, according to IT-TIMES. The bank's assessment points to advances in the software maker's AI business as a factor behind the changed recommendation.
The reports did not specify the previous rating or price target, so the size of the increase relative to JPMorgan's earlier position was not detailed in the coverage reviewed.
SAP is one of Germany's largest listed companies, and analyst rating changes from major banks are typically watched closely by investors in the stock. The upgrade places JPMorgan among the more bullish voices on the shares, per the reports.
Investors will be watching whether other analysts follow JPMorgan's lead and whether SAP's share price holds the gains seen after the upgrade. Further detail on the bank's reasoning, and any response from SAP itself, had not been reported at the time of publication.
