Jefferies Reiterates Buy on Oracle (ORCL) Following 1Q Report
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Jefferies reiterated a Buy rating and $51.00 price target on Oracle (NYSE: ORCL) following the company's 1Q earnings report. ORCL reported Non-GAAP EPS of $0.55 on total revenue of $8.595B, compared to the consensus estimates of $0.58 and $8.703B.
Analyst John DiFucci commented, "The optics of ORCL's F1Q may seem like a typical 1Q on initial glance, but we believe the results indicate an inflection point in the momentum of the aggregate business, with new business growth clearly in positive territory. We expect this to gradually accelerate and to become apparent as the Cloud accounting develops and the impending availability of the 12c R2 database drives incremental growth."
Shares of Oracle closed at $40.86 yesterday.
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