Drexel Hamilton Reiterates Buy on Oracle (ORCL) Ahead of 2Q Release

Drexel Hamilton reiterated a Buy rating and $47.00 price target on Oracle (NYSE: ORCL) ahead of the company's 2Q earnings report. Drexel believes that Oracle will slightly miss revenue estimates of $9.15
billion (Street is at $9.16 billion) and EPS projection of $0.61 (Street is at $0.61) due largely to a stronger U.S. dollar. Oracle is scheduled to report its 2Q results on 12/15, with a conference call at 5:00PM.

Analyst Brian White commented, "Although Oracle has matched the performance of the S&P 500 Index this year, the stock is essentially flat from thirty-one months ago. That said, we believe the worst of this cloud transition is behind Oracle and we believe the company should benefit from more favorable repatriation policies (we recommend a much higher dividend yield) and the NetSuite deal provides financial wiggle room over the next 12-18 months."

For an analyst ratings summary and ratings history on Oracle click here. For more ratings news on Oracle click here.

Shares of Oracle closed at $40.52 yesterday.

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