Oracle (ORCL): Notes From The Road; Cloud In Focus - Cowen
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Cowen analyst, Derrick Wood, reiterated his Outperform rating on shares of Oracle (NYSE: ORCL) after hosting investor meetings with Ken Bond, ORCL's VP of IR. The analyst noted that investors are increasingly convinced of the incremental strength of its cloud initiatives, but still want to see evidence that it will translate into accelerated operating profit growth. The analyst believes that EPS growth can reaccelerate in FY18, which should drive share price improvement.
No change to the price target of $46.
Shares of Oracle closed at $38.27 yesterday.
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