Analysts at FBR Capital Markets on Friday backed their positive
view of enterprise software giant Oracle Corporation (
) , following the company's annual user conference and analyst
The firm maintained its "Outperform" rating on ORCL, as well as
its $30 price target. That target represents an expected 11% upside
to the stock's Thursday closing price of $27.12.
An FBR analyst commented, "This week we attended ORCL's annual
user conference and analyst day. Given that the company just
reported earnings last week, there was no new financial
information. We spent our time talking to customers and partners to
help assess the company's product strategy. Overall we came away
feeling that ORCL's integrated systems approach and upcoming Fusion
applications will help the company take market share from its most
formidable competitors such as SAP AP (
) and IBM (
Oracle shares rose 18 cents, or +0.7%, 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 .74%
dividend yield, based on last night's closing stock price of
$27.12. The stock has technical support in the $23-$24 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.
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, as well as a detailed explanation of
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