UPDATE: JPMorgan Upgrades Oracle (ORCL) to Overweight

March 20, 2020 4:51 AM EDT
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Price: $87.69 -3.31%

Rating Summary:
    25 Buy, 31 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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(Updated - March 20, 2020 5:05 AM EDT)

JPMorgan analyst Mark Murphy upgraded Oracle (NYSE: ORCL) from Neutral to Overweight with a price target of $55.00 (from $51.00).

The analyst comments "We acknowledge our work suggests Oracle faces plenty of fundamental challenges in the pursuit of net-new workload growth, as was evident in our last CIO survey. However, we think the presence of a resilient, sticky, and largely recurring revenue stream with relatively low viability risk (as compared to Airlines, Hotels, Energy, Restaurants, Retailers, etc.), positions it well to relatively outperform in a slower economic environment and it could be a beneficiary of rotation into value as a relative safe haven within the software sector."

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 $45.07 yesterday.

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