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In a report published Thursday, BMO Capital Markets analyst Joel P. Fishbein Jr. initiated coverage on
OracleORCL with an Outperform rating and $42.00 price target.
In the report, BMO Capital Markets noted, “Oracle, as a leading provider of database, middleware, and applications solutions, in our view, is positioned for continued growth and market share gains through leveraging its installed base (cross-sell/up-sell), favorable product refresh cycles, and surrounding the competition in customer environments. We see multiple company-specific drivers: increasing specialized sales force (+3,000), traction of engineered systems and pull-through of related software, and an apps business that is primed for long-term growth. Oracle also appears positioned for continued margin expansion through prudent spending and cost economies of scale in both its core and Sun business.”
Oracle closed on Wednesday at $35.07.
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