Oracle: Jefferies downgrades stock
(CercleFinance.com) - Jefferies has downgraded its rating on the Oracle share from "buy" to "hold" while cutting its corresponding target price from 66 dollars to 60 dollars, preferring Microsoft in a report on the IT sector.
"The company loses ground in the infrastructure business as workloads migrate to the cloud," says the broker, which has cut its 2021 estimates for the corporate software publisher.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"The company loses ground in the infrastructure business as workloads migrate to the cloud," says the broker, which has cut its 2021 estimates for the corporate software publisher.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.