Oracle (ORCL) PT Lowered to $100 at Cowen Ahead of Results

Cowen analyst Derrick Wood lowered the price target on Oracle (NYSE: ORCL) to $100.00 (from $155.00) while maintaining an Outperform rating into Q3 results on 03/10.

The analyst commented, "ORCL reports 3Q on 3/10. Street is modeling ~7% cc growth & we expect a meet/slight beat. If it can top 7%, it would be the highest organic growth since '08. We expect 4Q guide of ~6-8% cc vs. Street at ~7.7% cc. We remain constructive on growth acceleration levers. We like the potential synergies from CERN & hope mgmt outlines the strategy, which could lift recent overhang. Reiterate Outperform."

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