Societe Generale Downgrades Oracle to Hold, Lowers PT

Societe Generale downgraded Oracle (NASDAQ: ORCL) from a Buy to Hold rating and lowered the price target from $32 to $28 in a research report published today.

In the report, Societe Generale stated, "Following Q2 FY12 (to end-November) disappointing earnings, we reduce our FY12-13 EPS estimates by 6% on average, and we downgrade Oracle to Hold (new TP: $28) from Buy ($32). Our more cautious stance is largely underpinned by a more challenging environment."

Shares of Oracle closed today at $25.73, down 11.80% from Tuesday's market close.