UPDATE: BMO Capital Raises PT on SAP AG Following Analyst Day

In a report published Wednesday, BMO Capital Markets reiterated its Market Perform rating on SAP AG

, and raised its price target from $75.00 to $80.00. BMO Capital Markets noted, “We attended SAP's financial analyst day at the CeBIT technology conference in Hannover, Germany. The focus was on the launch of SAP's core Business Suite ERP system on a HANA database in 2H13 as well as the continued shift to the cloud. SAP made no major new financial or product announcements.” SAP AG closed on Tuesday at $81.87.