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UPDATE: Wedbush Securities Raises PT to $37 on Oracle on Strong Execution

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Wedbush Securities reiterated its Neutral rating on Oracle (NASDAQ: ORCL) but raised its price target from $36 to $37 following quarterly results.

Wedbush Securities commented, "ORCL appears to be getting productivity from its sales hires, while the company's broad product offerings and sales talent give ORCL a good deal of protection from a difficult software demand environment in 2H CY12. We are taking up our EPS estimates by $0.05 in FY13 and $0.04 in FY14 on higher license revenue (which also drives improved operating margin). We are raising our target price from $36 to $37 on higher estimates, based on an average of our P/E, EV/FCF, and DCF approaches."

Oracle closed at $32.88 on Tuesday.

Latest Ratings for ORCL

DateFirmActionFromTo
Jan 2016BMO CapitalInitiates Coverage onMarket Perform
Jan 2016Evercore ISI GroupUpgradesHoldBuy
Nov 2015Goldman SachsUpgradesBuyConviction Buy

View More Analyst Ratings for ORCL
View the Latest Analyst Ratings

Posted-In: Wedbush SecuritiesAnalyst Color Price Target Intraday Update Analyst Ratings

 

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