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Analyst support boosts Sage

by David Jetuah

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28 Sep 2010

Analysts have given accountancy software giant Sage their seal of approval, which pushed their stocks up by 8.1p to 266.3p yesterday.

Market-watchers at BarCap said FTSE 100 company's exposure to small- and medium-sized enterprises meant that it was now slowly starting to see an improvement in end demand, which could lead to future earnings upgrades.

However the analysts said new industry initiatives such as cloud computing, would mean incoming chief executive, Guy Berruyer, would have to set out his vision for how Sage would operate in this new environment, the Daily Telegraph reported.

Further reading:

Sage debt reduced by £25m in three months

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