Oracle’s Estimates Cut at Morgan Stanley on Currency Concerns (ORCL)

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Enterprise software giant Oracle Corporation ( ORCL ) saw its earnings estimates lowered on Friday by analysts at Morgan Stanley.

The firm said it cut its estimates for ORCL through 2012, noting that the company will likely be hurt by the stronger dollar. Morgan Stanley currently rates the stock as "Overweight" with a $31 price target.

Oracle shares, which had closed at $22.58 on Thursday, were mostly flat in premarket trading Friday.

The Bottom Line
We recently removed shares of ORCL from our recommended list on May 4, when the stock was trading at $26.01. The company has a .89% dividend yield, based on last night's closing stock price of $22.58. The stock has technical support in the $20-$21 price area. If the shares can firm up, we see overhead resistance around the $25-$26 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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