Drexel Hamilton Remains Bullish on Oracle (ORCL) Following 2Q Earnings Report

Drexel Hamilton reiterated a Buy rating and $46.00 price target on Oracle (NYSE: ORCL) following the company's 2Q16 earnings report. Oracle reported non-GAAP sales of $9.0 billion, compared to the Street's $9.06 billion estimates. EPS of $0.63 exceeded consensus of $0.60, due in part to a lower tax rate.

Analyst Brian White commented, "Last night, Oracle delivered one of the healthier quarterly performances over the past year and decisively beat our cloud estimates as the company continues to show momentum with SaaS and PaaS."

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 $38.91 yesterday.

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