Opinions
Michael Hakes - CFA, MBA
SAP AG ADR
SAP-N
BUY
Jan 16, 2024
$156.630
Stock price when the opinion was issued
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BUY
Selling Rogers allowed him to enter stocks like Germany's SAP, which produces enterprise resource planning software. It ties a corporation's financials, human resources and operations together. SAP is moving away from a package to a cloud-based software as a service. Lots of growth here.
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BUY
The USD has had a fantastic run, so why not buy these European companies that have so much of their sales in the U.S. You get them at a discount now, so they'll have the wind at their banks for the Euro and Swiss franc turn around against the dollar. He predicts a 5% lift in forex in the next 6-8 months. These companies have great balance sheets and cash in sectors that are global.
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TOP PICK
CFO stated yesterday that excess cash would not be hoarded on the balance sheet but, rather, dedicated to shareholder returns or M&A.
Great chart. Decent runway in front of it. King of enterprise application software in Europe, and widely held over there. Big into supply chains. Reported yesterday and blew it out of the park. Up 13% YTD. Buy in thirds here around $277, low $260s, and low $250s. Yield is 0.9%.
(Analysts’ price target is $306.18)
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They benefit from any technology change as they consult clients. So, gen-AI will be a strong tailwind. Has owned this in the past. Is confident in the CEO. Is definitely on his radar.