Sector moving up and SAP leaving room for the little guys to run! PARTY PARTY PARTY!!!
NetSuite price target raised to $115 from $98 at JMP Securities
JMP Securities increased its price target on NetSuite (N) after SAP (SAP) said it would stop developing a cloud solution that competes with NetSuite. Although SAP said its partners would continue developing the product, the firm thinks the move by SAP reinforces the strength of NetSuite’s competitive position. The firm is also now more confident in its above-consensus estimates for NetSuite, and keeps an Outperform rating on the shares.