Monness, Crespi, Hardt Highlights Oracle (ORCL) as a Safe Port in the Tech Storm

Monness, Crespi, Hardt analyst Brian White reiterated a Buy rating and $126.00 price target on Oracle (NYSE: ORCL) noting that shares look more appealing as volatility in the high valuation technology space builds. This value is exacerbated by the recent, sharp decline in recent weeks after the announcement to acquire Cerner (NASDAQ: CERN). While the deal may appear risky due to its size, Oracle has a track record of making large deals work and the analyst sees this as an "attractive buying opportunity".

The analyst stated "all of Oracle’s gains experienced after delivering a strong 2Q:FY22 have been wiped out by announcing a poorly communicated, large acquisition that left investors scratching their heads and selling their shares. Cerner’s business model is very different from Oracle’s and the company’s operating margin profile substantially lower. After reaching an all-time nearly a month ago, Oracle’s stock has fallen 19%."

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 $86.46 yesterday.

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