UPDATE: Deutsche Bank Lowers Oracle's PT

According to a research report published earlier today, Deutsche Bank has lowered Oracle Corporation's ORCL PT from $29 to $28. In the report, Deutsche Bank said, “Oracle reported revenue of $9.06b vs us/Street at $9.05b/$9.02b. Rev. rebounded due to strong performance in infrastructure software but was offset by weakness in application licenses. Hardware missed guidance for the 5th quarter in a row (-16% y/y). EPS of $0.62 was ahead of us/Street @ $0.56, but was aided by lower tax rate and share count. Operating margins improved to 46% and could reach historical highs in FY13. 4Q guidance was below our/Street estimates, implying ~0% organic revenue growth y/y. Reiterate Hold, reducing PT to $28 from $29.” Oracle closed yesterday at $30.10.