UPDATE: Citigroup Raises PT to $37 on Oracle on Staying Earning Power
Citigroup reiterated its Buy rating on Oracle (NASDAQ: ORCL) and increased its price target from $34 to $37.
Citigroup said, "License reveLicense revenue of $1.574B was inline with street and slightly ahead of our $1.528B estimate. Americas was strong while Europe was weak. … Gross margins (ex-HW product) were better than forecast and sales and marketing expense was lower than we modeled, driving operating margin of 43.7%, 120bp ahead of our estimate."
Oracle closed at $32.26 on Thursday.
Latest Ratings for ORCL
|Apr 2017||Benchmark||Initiates Coverage On||Buy|
|Mar 2017||JMP Securities||Upgrades||Market Underperform||Market Perform|
|Mar 2017||JP Morgan||Upgrades||Neutral||Overweight|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.