UPDATE: Deutsche Bank Lowers Price Target on Oracle to $29

According to Deutsche Bank, Oracle ORCL price target is lowered to $29. Deutsche Bank said that Oracle reported revenue of $8.8b that was below guidance of $9.0b-$9.3b and our/Street estimates of $9.28b/$9.23b. “The quarter exhibited weakness across all verticals, which appears to be artificially low. HW margins fell to 51% from 55%. Until we see meaningful improvement, we reiterate Hold and lower PT to $29, from $33.” Oracle closed yesterday at $29.17.