Oracle stock price target raised to $61 from $57 at Raymond James

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Oracle downgraded at Macquarie ahead of earnings

Oracle Corp. shares are off 0.65 in premarket trading Tuesday after Macquarie analyst Sarah Hindlian downgraded the stock to neutral from outperform ahead of the company’s Wednesday afternoon earnings report. “Our checks for the FQ4 suggest that Oracle was able to close the quarter and the year in the final weeks, with some pockets of success like Cloud ERP, but it was a struggle,” she wrote. “Along with several leading partners seeing softening of the pipeline, we believe there is a step function lower in demand for Oracle and it is appropriate to re-evaluate.” She argued that stock buybacks were driving Oracle’s recent outperformance. Shares are up 18% so far this year, as the S&P 500 has gained 15%.

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