UPDATE: Jefferies Raises PT to $34 on Oracle Ahead of Earnings
Jefferies reiterated its Hold rating on Oracle (NASDAQ: ORCL) but raised its price target from $32 to $34.
Jefferies noted, "Our most recent field work points to an in-line F2Q13, although it is possible license could be slightly better given the comp, inorganic contribution and sequential demand trends that do not appear to have deteriorated significantly. Integrated system trends continue to sound better, growth trends in the core sound OK, and Fusion Apps are a slow burn. Remain Hold, but raise our PT to $34 to reflect a shift to FY14."
Oracle closed at $31.96 on Friday.
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