Software AG: Feedback from the Investors Day
BUY, Fair Value EUR34 (+24%)
Yesterday, Software AG hosted an Investors Day at its head office in Darmstadt (Germany). No financial update was given, and the presentations were on the product roadmap, its new IBO (Intelligent Business Operations) platform, and management’s medium-term strategic vision. While considering IBO can’t be seen as a big catalyst short term, we believe Software AG’s ability to gain market share and grow revenues and non-IFRS op. margin in 2014 will drive the share price upwards.
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