Jefferies Lifts Estimates on Oracle (ORCL) After Q4, Maintains Hold
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Price: $34.09 -0.9%
Rating Summary:
18 Buy, 10 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
18 Buy, 10 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade ORCL Now!
Jefferies raised estimates on Oracle (NASDAQ: ORCL) following Q3 results, which were slightly ahead of and Q4 guidance that was mixed.
The firm comments, "Our ests move slightly higher on fundamentals/a lower forecast tax rate. We downgraded the stock on 3/11 based on a number of incremental concerns and mgmt spent much of the call discussing these: including engineered systems, Fusion apps and the competitive position of the database."
Q4 EPS goes from $0.77 to $0.80, FY12 EPS goes from $2.36 to $2.44 and FY13 goes from $2.48 to $2.59.
The firm maintained their Hold rating and $32 price target.
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 $30.10 yesterday, with a 52 week range of $24.72-$36.50.
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The firm comments, "Our ests move slightly higher on fundamentals/a lower forecast tax rate. We downgraded the stock on 3/11 based on a number of incremental concerns and mgmt spent much of the call discussing these: including engineered systems, Fusion apps and the competitive position of the database."
Q4 EPS goes from $0.77 to $0.80, FY12 EPS goes from $2.36 to $2.44 and FY13 goes from $2.48 to $2.59.
The firm maintained their Hold rating and $32 price target.
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 $30.10 yesterday, with a 52 week range of $24.72-$36.50.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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