Jefferies Reiterates Buy on Oracle (ORCL) Ahead of 1Q Report
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Jefferies reiterated a Buy rating and $51.00 price target on Oracle (NYSE: ORCL) ahead of the company's 1Q earnings report.
Analyst John DiFucci commented, "We expect a decent Q led by continued strength in Cloud signings in ORCL's F1Q, which is typically seasonally muted. ORCL has said that Cloud signings are preferential to on prem and the company’s behavior is supportive of this conclusion, as we doubt there is another major software company so aggressively pursuing such a transition. FX will likely have little effect on reported results since guidance was given with about a 20 basis point headwind to revenue."
Shares of Oracle closed at $40.68 yesterday.
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