---
title: "SAP Price Target Trimmed to $195 as Enhanced Joule-Led AI Strategy Underpins Buy Rating"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286377186.md"
description: "TD Cowen analyst Derrick Wood has maintained a Buy rating on SAP stock, trimming the price target to $195 due to sector valuation pressure. He cites SAP's evolving AI strategy, including the Joule Work engagement layer and improved orchestration capabilities, as key factors for customer adoption and long-term growth. Despite slow AI traction, Wood believes the enhanced AI portfolio justifies a positive outlook. Berenberg Bank also supports the stock with a Buy rating and a €215.00 price target."
datetime: "2026-05-14T07:25:21.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286377186.md)
  - [en](https://longbridge.com/en/news/286377186.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286377186.md)
---

# SAP Price Target Trimmed to $195 as Enhanced Joule-Led AI Strategy Underpins Buy Rating

TD Cowen analyst Derrick Wood has maintained their bullish stance on 0NW4 stock, giving a Buy rating today.

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Derrick Wood has given his Buy rating due to a combination of factors tied to SAP’s evolving AI strategy and product roadmap. He views the new Joule Work engagement layer, the more open Joule architecture, and extended access and promotions for Joule as meaningful steps to close prior AI gaps and accelerate customer adoption, including among on-premise users.

He also highlights management’s conviction that AI-driven consumption offerings such as Joule, BDC, and AI Agent Hub can materially increase the mix of consumption-based revenue by 2030, supporting long-term growth and cash generation. While acknowledging that AI traction has been slow so far and trimming the price target to $195 to reflect sector valuation pressure, he believes the enhanced AI portfolio, improved orchestration capabilities, and potential boost to cloud migrations justify maintaining a positive stance on the shares.

Wood covers the Technology sector, focusing on stocks such as Twilio, Adobe, and Microsoft. According to TipRanks, Wood has an average return of \-0.6% and a 42.34% success rate on recommended stocks.

In another report released today, Berenberg Bank also maintained a Buy rating on the stock with a €215.00 price target.

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