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Jefferies Reiterates Hold Rating, $35 on Oracle Corporation on Acme Packet Acquisition

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In a report published Monday, Jefferies reiterated its Hold rating and $35.00 price target on Oracle Corporation (NASDAQ: ORCL).

Jefferies noted, “This morning Oracle announced plans to acquire session border controller (SBC) maker Acme Packet (APKT) for $29.25/share in cash ($1.68B EV) and expects to close the transaction in the first half of 2013. We see the acquisition bolstering demand for Sun hardware, expanding ORCL's unified communications portfolio, and expanding ORCL's relationship with large telco service providers.”

Oracle Corporation closed on Friday at $36.21.

Latest Ratings for ORCL

DateFirmActionFromTo
Sep 2014MKM PartnersInitiates Coverage onNeutral
Sep 2014BarclaysMaintainsOverweight
Aug 2014DA DavidsonInitiates Coverage onNeutral

View More Analyst Ratings for ORCL
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Reiteration Analyst Ratings

 

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