Wedbush announced on Friday that they have initiated coverage of
computer software provider, Oracle Corporation(
The firm reported that they have began coverage on ORCL, and
have given the company a rating of "Neutral," and a price target of
$36. This price target suggests a 10% increase from the stock's
current price of $32.08.
An analyst from the firm commented, "we believe Oracle is a
large, liquid, and relatively defensive software investment due to
its heavy mix of maintenance revenue, broad product portfolio, and
diverse customer base… Relative to consensus, we expect ORCL to be
somewhat challenged on revenues, but to meet or beat on EPS going
forward… Neither our valuation nor our 12-month outlook provides a
strong basis for accumulating shares."
Oracle shares were mostly flat during premarket trading Friday.
The stock is up 24% YTD.
The Bottom Line
Shares of Oracle Corporation (
) have a .75% dividend yield, based on last night's closing stock
price of $32.03. The stock has technical support in the $28-$29
price area. If the shares can firm up, we see overhead resistance
around the $33-$35 price levels.
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.2 out of 5 stars.
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, as well as a detailed explanation of
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