SAP's share price advanced on Tuesday, with Barclays raising its target price for the company from €200 to €230, while maintaining its 'overweight' rating on the enterprise software developer.

At around 1:45 pm, the stock gained 0.7%, making it one of the strongest performers on the CAC 40 index.

In a research note, Barclays points out that SAP shares are still under-weighted by US investors, despite their resilient growth, margin improvement potential and attractive valuation.

All these factors, according to the analyst, are likely to make SAP an attractive proposition for Wall Street, at a time when the German technology group is looking to focus on the US financial markets.

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