Market Overview

UPDATE: Societe Generale Raises PT to $35 on Oracle on Solid Outlook

Share:
Related ORCL
Supreme Court Rejects Google's Appeal Of Java Copyright Ruling
Oracle Japan Profits 'Unexpectedly' Down In Fourth Quarter
Properly Accounting For Earnings And Capital Expenditures In The Tech Sector (Seeking Alpha)

Societe Generale reiterated its Hold rating on Oracle (NASDAQ: ORCL) but raised its price target from $30 to $35.

Societe Generale noted, "Despite sluggish macro, notably in Europe (32% group revenue), and US fiscal cliff risks, we have greater confidence in Oracle's prospects given: a) new product cycle momentum: History shows that new database releases (10g in 2004, 11g in 2008) add c.10% to license growth in launch year. In 2013 the now more mature Fusion Apps should benefit from migration of EBS 11.5 ERP clients (60% of Oracle ERP installed base). The Exa-series is still on track to deliver triple-digit growth again with a healthy pipeline; b) increased sales capacity (>30% over last 12m across all sectors) should start to deliver."

Oracle closed at $32.03 on Thursday.

Latest Ratings for ORCL

DateFirmActionFromTo
Jun 2015WedbushReiteratesNeutral
Jun 2015Cantor FitzgeraldMaintainsBuy
Jun 2015SunTrust Robinson HumphreyMaintainsNeutral

View More Analyst Ratings for ORCL
View the Latest Analyst Ratings

Posted-In: Societe GeneraleAnalyst Color Price Target Pre-Market Outlook Analyst Ratings

 

Related Articles (ORCL)

Around the Web, We're Loving...

Get Benzinga's Newsletters