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Oracle’s Target Raised at Citigroup; Sees Multiple Catalysts (ORCL)

By Dividend.com,  April 30, 2012, 10:00:01 AM EDT

Enterprise software giant Oracle Corporation ( ORCL ) on Monday caught some bullish commentary from analysts at Citigroup.

The firm said it boosted its price target on ORCL to $34, suggesting a 16% upside to the stock's Friday closing price of $29.24. Citigroup noted it sees several potential catalysts for the company over the next six months.

Oracle shares, which have risen 14% year-to-date, were mostly flat in premarket trading Monday.

The Bottom Line
Shares of Oracle ( ORCL ) have a .82% dividend yield, based on Friday's closing stock price of $29.24. The stock has technical support in the $26-$28 price area. If the shares can firm up, we see overhead resistance around the $30-$32 price levels.

Oracle Corporation ( ORCL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 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.


This article appears in: Investing, Stocks

Referenced Stocks: ORCL



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