UPDATE: Berenberg Starts Oracle (ORCL) at Hold

September 14, 2022 3:32 AM EDT
Get Alerts ORCL Hot Sheet
Price: $81.39 --0%

Rating Summary:
    28 Buy, 31 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 4 | Down: 11 | New: 11
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(Updated - September 14, 2022 4:41 AM EDT)

Berenberg analyst Nay Soe Naing initiates coverage on Oracle (NYSE: ORCL) with a Hold rating and a price target of $72.00.

The analyst comments "The accompanying analysis for our initiation on Oracle helps to reinforce our positive view of SAP’s cloud transformation. In our view, the strategy and approach that SAP has adopted in regards to its cloud transformation is clear, transparent and facilitative for customers transitioning to cloud. As such, for investors looking to buy into the cloud-adoption trend, of the two software giants, we believe that SAP presents itself more favourably. We reiterate our Buy rating and our price target of EUR110.00 on SAP. Meanwhile, in our view, the mid-term opportunities and risks for Oracle are balanced and, with this in mind, we do not anticipate a major re-rating in Oracle’s share price from its current level over the medium term. We initiate with a Hold rating and a $72.00 price target."

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 $76.04 yesterday.

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