Jefferies Downgrades Oracle (ORCL) to Hold Citing Increasing Challenges to Growth

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Jefferies downgraded Oracle (NASDAQ: ORCL) from Buy to Hold with a price target of $32 (from $35).

The firm comments, ": i) challenges with the engineered systems strategy; ii) building threats to the core relational database business; and iii) recent checks that were underwhelming. We lower our FY13 ests, introduce FY14 and lower our PT to $32."

FY13 EPS was cut from $2.51 to $2.48 and FY14 was introduced at $2.62.

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 $30.13 yesterday, with a 52 week range of $24.72-$36.50.

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