J.P. Morgan Reiterates Overweight Rating on Oracle Corporation Following NetSuite Alliance Announcement

In a report published Thursday, J.P. Morgan analyst John DiFucci reiterated an Overweight rating on Oracle Corporation ORCL. In the report, J.P. Morgan noted, “Oracle announced a strategic alliance with NetSuite (not covered) resulting in deeper integration between Oracle's HCM Cloud and NetSuite core ERP solutions, aimed for mid-size customers. Oracle will have a dedicated sales team focused on selling this combined solution (within its broader HCM salesforce), expected to be released soon. Oracle President Mark Hurd and NetSuite CEO Zach Nelson hosted a conference call announcing the alliance.” Oracle Corporation closed on Wednesday at $30.14.