Enterprise software giant Oracle Corporation (
) on Tuesday saw its coverage started with a "Buy" rating by
analysts at Canaccord Genuity.
The firm also set a $32 price target on ORCL, which represents
an expected 19% upside to the stock's Monday closing price of
Canaccord Genuity noted the company has a full product suite and
should perform well during the next software upgrade cycle.
Oracle shares rose 28 cents, or +1%, 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
$26.90. 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.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here
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