Oracle’s Estimates Lowered at UBS on Currency Concerns (ORCL)

By Staff,

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Enterprise software giant Oracle Corporation ( ORCL ) saw its earnings estimates cut on Thursday by analysts at UBS.

The firm said it lowered ORCL's estimates through 2011, citing possible currency headwinds as the euro continues to decline and dollar strengthens. Still, the analyst maintained its "Buy" rating and $31 price target on the stock, which had closed at $22.64 on Wednesday.

Oracle shares fell 14 cents, or -0.6%, in premarket trading Thursday.

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 .88% dividend yield, based on last night's closing stock price of $22.64. 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 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 Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: ORCL

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