UPDATE: BMO Capital Markets Upgrades Oracle Corporation to Outperform, Raises PT
In a report published Friday, BMO Capital Markets upgraded its rating on Oracle Corporation (NASDAQ: ORCL) from Market Perform to Outperform, and raised its price target from $36.00 to $43.00.
BMO Capital Markets noted, “Bottom line, we conclude that enterprise data software spending is improving after a rough 2012 and that demand for engineered data appliances is now broad enough that Exadata sales will have a discernable impact on Oracle's overall growth rate in 2013. Rival SAP appears to be backing off its 2015 database target, Oracle is at least fighting back in the cloud application market, and we believe the worst of the hardware declines are behind us. Coupled with continued margin gains, we believe that the likelihood of EPS upside is high and that at just 13x non-GAAP EPS, Oracle shares represent compelling value even after the recent run from $30 to $35.”
Oracle Corporation closed on Thursday at $35.51.
Latest Ratings for ORCL
|Jan 2017||Wells Fargo||Initiates Coverage On||Outperform|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.