Yonhap Infomax NewsSAP ADR shares fell 4% to $171.00 after JPMorgan downgraded the stock to Neutral from Overweight and slashed its target price to 175 euros from 260 euros, citing concerns over slowing cloud backlog growth as the migration customer base matures, making future earnings reacceleration uncertain.
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SAP Drops 4% on JPMorgan Downgrade, Target Price Slashed
SAP ADR shares fell 4% to $171.00 after JPMorgan downgraded the stock to Neutral from Overweight and slashed its target price to 175 euros from 260 euros, citing concerns over slowing cloud backlog growth as the migration customer base matures, making future earnings reacceleration uncertain.