Oracle’s Price Target Lowered by Credit Suisse (ORCL)

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Enterprise software giant Oracle Corporation ( ORCL ) saw its price target slightly cut on Monday by analysts at Credit Suisse.

The firm lowered its target for ORCL to $30 from $31, citing weakening deal signings in Europe. Still, that target represents a 32% upside from the stock's Friday closing price of $22.69. Suisse also maintained its "Outperform" rating for the stock.

Oracle shares rose 18 cents, or +0.8%, in premarket trading Monday.

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 Friday's closing stock price of $22.69. 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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