Jefferies Upgrades Oracle (ORCL) to Buy

Jefferies upgraded Oracle (NYSE: ORCL) from Hold to Buy with a price target of $50.00 (from $41.00).

Analysts DiFucci & Zelnick commented, "We are upgrading ORCL to Buy from Hold and increasing our PT to $50 from $41, as we expect a 12c/Exadata product cycle, ORCL will maintain some relevance in a shift to Cloud, and alternative database technologies are not a death knell. We're adjusting capex and CF estimates due to a more aggressive move to Cloud, but we believe ORCL will remain a very relevant IT vendor with decent growth prospects longer term, and that's all that’s needed to get to $50."

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 $39.79 yesterday.

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