Enterprise software giant Oracle Corporation (
) saw its price target slightly cut on Monday by analysts at Credit
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
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 (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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