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Technology Stocks : SAP A.G. -- Ignore unavailable to you. Want to Upgrade?

To: fred douglas liebling who wrote (340)	1/28/1998 7:29:00 AM
From: Ibexx	Read Replies (2) \| Respond to of 3424

fred and thread, ______ Wednesday January 28, 6:53 am Eastern Time SAP surges after Goldman Sachs shr upgrade FRANKFURT, Jan 28 (Reuters) - Shares in German software giant SAP AG (SAPG.F) surged more five percent to a fresh life high on Wednesday after Goldman Sachs upgraded its share price target for the group, dealers said. By 1133 GMT SAP shares were 5.43 percent stronger at 628.90 marks and among the biggest 10 percentage gainers on the Xetra DAX computer traded index. Goldman Sachs announced earlier it had upgraded its SAP preference share price target to 830 marks from 650 marks. The announcement added to positive sentiment sparked by Commerzbank's (CBKG.F) announcement on Tuesday it had raised its 1998 and 1999 earnings per share estimates for SAP, based on the group's robust 1997 gains. SAP shares plunged in the wake of its year results announced earlier on Tuesday with dealers saying although profits were hefty, the market was disappointed by the group's 1998 outlook. But shares recovered by close on Tuesday and on Wednesday surged higher. SAP announced 1997 net profit of 924 million marks from 567 million marks previously with sales rising 62 percent to 6.02 billion marks. It said that it saw 1998 sales growing by 30 to 35 percent. Commerzbank raised its 1998 EPS estimate to 12.40 marks from 11.70 marks and its 1999 estimate to 16.40 marks from 15.50 marks. ___________ WOW is right! Ibexx