Jefferies Downgrades Oracle (ORCL) to Hold Citing Increasing Challenges to Growth
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Price: $150.28 -1.74%
Rating Summary:
48 Buy, 21 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 5 | New: 34
Rating Summary:
48 Buy, 21 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 5 | New: 34
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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.
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.
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