Canaccord Genuity Maintains a 'Hold' on Oracle (ORCL); Small Beat, But Slightly Lowering FY13
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Price: $34.23 +0.32%
Rating Summary:
18 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
18 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade ORCL Now!
Canaccord Genuity maintains a 'Hold' on Oracle (NASDAQ: ORCL) price target of $30.00.
Analyst, Richard Davis, said, "ORCL was up 3% after hours on a respectable print in a tough macro. We expect the stock to advance another $2-3 before running out of steam. ORCL should be a reasonable safe port in a bear market, but in a flat or bullish tape the stock is likely to slightly underperform. We believe the quarter is a favorable read-through to the overall software sector."
On outlook, Davis said the company was conservative. Davis has lowered FY13 revenue by $815 million and EPS by $0.01 to $39.3 billion and $2.67, mainly citing change in currency
For an analyst ratings summary and ratings history on Oracle click here. For more ratings news on Oracle click here.
Shares of Oracle closed at $27.12 yesterday, with a 52 week range of $24.72-$34.13.
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Analyst, Richard Davis, said, "ORCL was up 3% after hours on a respectable print in a tough macro. We expect the stock to advance another $2-3 before running out of steam. ORCL should be a reasonable safe port in a bear market, but in a flat or bullish tape the stock is likely to slightly underperform. We believe the quarter is a favorable read-through to the overall software sector."
On outlook, Davis said the company was conservative. Davis has lowered FY13 revenue by $815 million and EPS by $0.01 to $39.3 billion and $2.67, mainly citing change in currency
For an analyst ratings summary and ratings history on Oracle click here. For more ratings news on Oracle click here.
Shares of Oracle closed at $27.12 yesterday, with a 52 week range of $24.72-$34.13.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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