BusinessCompany News‘Undervalued’ Sage shares climb

'Undervalued' Sage shares climb

Brokerage recommendation helps push up price

Comments by Merrill Lynch that accountancy
software firm Sage’s stock price was
undervalued helped make the Newcastle-based firm the top performer over the
recent Bank holiday weekend.

Merrill Lynch said the stock was undervalued as the group was unlikely to be
affected by the recent credit fears. It upped its rating on Sage from ‘neutral’
to ‘buy’ saying the second half of the year is seasonally strong for the group.

Sage closed up
3.2% at 233.25p, although it is still a way off year highs of 277.75p in
January.

Further reading:

Sage buys Snowdrop Systems for £17m

Sage to expand Newcastle HQ

Sage interim revenues surge 34%

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