** BofA affirms its "buy" on SAP SAPG.DE, pushing back on AI disruption fears after a selloff that wiped 175 billion euros ($205 billion) off its value from peak levels last year

** A day after SAP hit its lowest since January 2024, taking YTD losses to over 33%, the broker maintains the stock as its top large-cap software pick, pointing to an ambitious AI roadmap unveiled at its Sapphire conference

** BofA's stance reflects broader sellside sentiment, with 26 of 35 analysts rating the stock "buy" or "strong buy", seven "hold" and only two "sell" or "strong sell"

** "All about execution", BofA analyst Frederic Boulan writes, pointing to the "Autonomous Enterprise" strategy, expanded Joule offering and more than 50 AI assistants

** While noting muted near-term AI traction, discussions with firms such as Capgemini CAPP.PA, Infosys INFY.NS and McKinsey still point to strong demand and broad efficiency gains from AI, BofA adds

** The broker cites ongoing cloud momentum, with backlog growth around 25%, and sees double-digit revenue and EBIT growth supported by operating leverage and AI, alongside potential upside from capital deployment

** SAP traded below the lowest analyst price target for the first time in about four years in April and early May, LSEG data shows, underscoring the extent of the selloff

** Shares last up 1.7%

($1 = 0.8542 euros)