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UPDATE: Citigroup Raises PT to $37 on Oracle on Staying Earning Power

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Citigroup reiterated its Buy rating on Oracle (NASDAQ: ORCL) and increased its price target from $34 to $37.

Citigroup said, "License reveLicense revenue of $1.574B was inline with street and slightly ahead of our $1.528B estimate. Americas was strong while Europe was weak. … Gross margins (ex-HW product) were better than forecast and sales and marketing expense was lower than we modeled, driving operating margin of 43.7%, 120bp ahead of our estimate."

Oracle closed at $32.26 on Thursday.

Posted-In: CitigroupAnalyst Color Price Target Intraday Update Analyst Ratings

 

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