Canaccord Genuity Maintains a 'Buy' on Oracle (ORCL); Expectations from OpenWorld Analyst Day

Canaccord Genuity maintains a 'Buy' on Oracle (NASDAQ: ORCL) price target of $38.00.

Canaccord analyst, Richard Davis, said, "We highlight some of the key items likely to be discussed, dissected and disseminated by analysts from this week’s OpenWorld conference: Exadata...and lots of hardware talk. In some ways, Oracle is a reverse-IBM (NYSE: IBM). IBM sells software to create hardware sales (aka “drag”) while Oracle increasingly sells hardware to drive software sales. For Oracle this means the firm’s Exalogic hardware/software stack...Why this matters: Depending on how broadly you define hardware and adjacent firmware, we estimate that upwards of 40% of Oracle’s earnings growth over the next two years will come from the hardware and firmware component of Oracle’s stack."

For more ratings news on Oracle click here and for the rating history of Oracle click here.

Shares of Oracle closed at $28.69 yesterday.

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