Oracle Corporation Initiated as a “Buy” at Canaccord Genuity (ORCL)

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Enterprise software giant Oracle Corporation ( ORCL ) 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 $26.90.

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 Tuesday.

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 ( ORCL ) 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 .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: ORCL

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