Canaccord Genuity Reiterates Hold Rating, $35 PT on Oracle Corporation

In a report published Wednesday, Canaccord Genuity reiterated its Hold rating and $35.00 price target on Oracle Corporation

. Canaccord Genuity noted, “We expect ORCL shares to outperform in flat and down markets and underperform in bull markets. Among large cap tech, Oracle should at least hold its own compared to struggling firms like HP and firms with uncertain new product uptake like Microsoft. However, we still struggle with the future impact of the 300 or so private cloud companies that we know, almost all of which are aiming at Oracle. We came close to an upgrade, but we didn't quite get there. Maintain HOLD for now.” Oracle Corporation closed on Tuesday at $32.88.