Enterprise software giant Oracle Corporation (
) on Wednesday saw its "Outperform" rating reiterated by analysts
at FBR Capital Markets.
The firm also backed its $30 price target on ORCL, which
represents an expected 18% upside to the stock's Tuesday closing
price of $25.38.
An FBR analyst commented, "We expect Oracle to report good F1Q11
(August) results after the market close on September 16, with
generally in-line revenues and the possibility for EPS upside.
While F1Q is seasonally soft for Oracle, our checks indicate the
quarter progressed as expected. Specifically, our checks into the
application business were generally decent, although mixed, while
our database checks were good and more consistent. We think the
currency headwind on revenues will be milder than expected due to
the recent depreciation of the dollar."
Oracle shares were mostly flat in premarket trading
The Bottom Line
We had removed shares of ORCL from our recommended list back on May
4, when the stock was trading at $26.01. Shares of ORCL have a .79%
dividend yield, based on last night's closing stock price of
$25.38. The stock has technical support in the $22-$23 price area.
If the shares can firm up, we see overhead resistance around the
$27-$29 price levels. We would remain on the sidelines for now.
Oracle Corporation (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here
Created by Dividend.com