Canaccord Genuity Reiterates a 'Buy' on Oracle (ORCL); Best Positioned Platform Vendor
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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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Canaccord Genuity reiterates a 'Buy' on Oracle (NASDAQ: ORCL) price target of $38.00.
Canaccord analyst, Richard Davis, said, "Yesterday we attended Oracle’s analyst event associated with the firm’s OpenWorld conference in San Francisco with about 200 other investment and industry analysts. Management was bullish – as usual – and attendees seemed enthused as the introduction of an expanded and enhanced integrated hardware/software portfolio positions the firm well to capture increasing wallet-share from customers. We continue to believe that reasonably predictable organic growth (recurring sales into installed base and an enormous maintenance stream), a meaningful opportunity for operating leverage (transition away from commodity to higher-value hardware sales, strong software license performance, and economies of scale), and an attractive valuation (10x C2012 consensus EPS estimates) make ORCL a fairly safe, defensive bet in a tricky investing environment."
For more ratings news on Oracle click here and for the rating history of Oracle click here.
Shares of Oracle closed at $30.07 yesterday.
Canaccord analyst, Richard Davis, said, "Yesterday we attended Oracle’s analyst event associated with the firm’s OpenWorld conference in San Francisco with about 200 other investment and industry analysts. Management was bullish – as usual – and attendees seemed enthused as the introduction of an expanded and enhanced integrated hardware/software portfolio positions the firm well to capture increasing wallet-share from customers. We continue to believe that reasonably predictable organic growth (recurring sales into installed base and an enormous maintenance stream), a meaningful opportunity for operating leverage (transition away from commodity to higher-value hardware sales, strong software license performance, and economies of scale), and an attractive valuation (10x C2012 consensus EPS estimates) make ORCL a fairly safe, defensive bet in a tricky investing environment."
For more ratings news on Oracle click here and for the rating history of Oracle click here.
Shares of Oracle closed at $30.07 yesterday.
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