Deutsche Bank Maintains Buy on SAP as Cloud Vending and Mobile Technology Heats Up

Deutsche Bank reported that, “At SAP’s CeBIT investor event earlier this week, management reiterated confidence in the major growth drivers of cloud, HANA and Mobile. We believe SAP continues to see strong demand momentum with management indicating it is hosting twice the customer meetings at CeBIT this year vs. 2012. In cloud, SAP has become a credible player able to compete with best-of-breed pure play vendors and still at an early stage with a modest ~5% penetration rate of its customer base so far.”