Nomura Securities Maintains a 'Buy' on Oracle (ORCL); Review of 1Q12 Earnings
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Price: $150.52 -3.65%
Rating Summary:
48 Buy, 21 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
48 Buy, 21 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on Oracle (NASDAQ: ORCL) price target of $34.00.
Nomura analyst, Rick Sherland, said, "Oracle’s reported first (Aug) fiscal quarter results were slightly ahead of the street, showing no signs of weakness in enterprise spending. Of particular note was strong growth in EMEA, where application revenues grew a robust 55% y/y, despite a softening macro-data and volatile equity markets. Hardware Systems Products revenue declined 5% y/y as we had expected. However, the attach rate of hardware support contracts has roughly doubled to what we estimate to be nearly 70% on new server sales. We remain positive on the growth opportunity from an expanding line of integrated high performance server and storage hardware integrated with Oracle database and middleware software. Our 2012E EPS goes to $2.44 from $2.42, 2013E to $2.73 from $2.71."
For more ratings news on Oracle click here and for the rating history of Oracle click here.
Shares of Oracle closed at $28.35 yesterday.
Nomura analyst, Rick Sherland, said, "Oracle’s reported first (Aug) fiscal quarter results were slightly ahead of the street, showing no signs of weakness in enterprise spending. Of particular note was strong growth in EMEA, where application revenues grew a robust 55% y/y, despite a softening macro-data and volatile equity markets. Hardware Systems Products revenue declined 5% y/y as we had expected. However, the attach rate of hardware support contracts has roughly doubled to what we estimate to be nearly 70% on new server sales. We remain positive on the growth opportunity from an expanding line of integrated high performance server and storage hardware integrated with Oracle database and middleware software. Our 2012E EPS goes to $2.44 from $2.42, 2013E to $2.73 from $2.71."
For more ratings news on Oracle click here and for the rating history of Oracle click here.
Shares of Oracle closed at $28.35 yesterday.
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