Macquarie Downgrades Oracle (ORCL) to Neutral; Riding the Exacycle
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Price: $127.94 -2.74%
Rating Summary:
49 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 22 | New: 15
Rating Summary:
49 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 22 | New: 15
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Macquarie downgraded Oracle (NASDAQ: ORCL) from Outperform to Neutral, price target lowered from $32 to $31.
Analyst, Brad Zelnick, said, "We are evolving our thesis and downgrading Oracle shares to Neutral. Bottom line, our confidence in Oracle was rooted in Exadata growth and expectations are now clearly much lower than originally expected. We still contend the products are advantaged in the market, but we see F2Q evidencing an unintended consequence of entering the hardware business – cyclicality."
"Our FY12 revenue decreases to $36.9bn from $37.0bn and non-GAAP EPS decreases to $2.31 from $2.32."
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 $28.51 yesterday.
Analyst, Brad Zelnick, said, "We are evolving our thesis and downgrading Oracle shares to Neutral. Bottom line, our confidence in Oracle was rooted in Exadata growth and expectations are now clearly much lower than originally expected. We still contend the products are advantaged in the market, but we see F2Q evidencing an unintended consequence of entering the hardware business – cyclicality."
"Our FY12 revenue decreases to $36.9bn from $37.0bn and non-GAAP EPS decreases to $2.31 from $2.32."
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 $28.51 yesterday.
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