Oracle: Canaccord Genuity raises target price.

(CercleFinance.com) - Canaccord Genuity reiterates its "buy" rating on Oracle and is raising its target price from 45 dollars to 49 dollars, after the enterprise software company unveiled a "pretty upbeat" outlook after its quarterly results.


In a research note sent to clients, the Canadian broker says the stock could rise a further 10% upside before running out of steam; Canaccord does not see this happening "for at least another quarter."

"Large-cap value stocks like Oracle tend to move like ocean liners - once momentum starts in one direction, the stock continues to steam ahead in that direction for a while," the broker reminds.

Canaccord Genuity indeed believes EPS growth should improve over the year, with preliminary comments suggesting that currency-adjusted EPS growth should be in the double-digits, well ahead of estimates.

Copyright (c) 2017 CercleFinance.com. All rights reserved.