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SAP Earns an Upgrade at BMO Capital

BMO Capital analysts upgraded SAP (NYSE:SAP) to Outperform from Market Perform and increased their price target on the stock to $237 from $218. The analysts highlighted that SAP has strong visibility into bookings and revenues for the upcoming years, driven primarily by the conversion of its extensive and loyal installed base to cloud offerings.
Key catalysts for the stock include a steady growth pace in the Current Cloud Backlog and Cloud ERP, along with achieving significant milestones towards the goal of €8 billion in free cash flow by fiscal 2025.

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