Drexel Hamilton Reiterates Buy on Oracle (ORCL) Following 2Q Report
Drexel Hamilton reiterated a Buy rating and $47.00 price target on Oracle (NYSE: ORCL) following the company's 2Q earnings report. Oracle reported sales of $9.07 billion, which missed the Street's $9.11 billion estimate. Pro forma EPS of $0.61 met the consensus estimate at $0.60.
Analyst Brian White commented, "Last night, Oracle reported 2Q:FY17 results that reflected a more meaningful FX headwind than anticipated in September, combined with another strong cloud performance. Moreover, Oracle remains confident in growing EPS by a double digit percentage in FY:18. We are maintaining our 12-month price target at $47.00 and reiterate our BUY rating."
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Shares of Oracle closed at $40.86 yesterday.