Oracle Downgraded at Deutsche
The brokerage cites valuation in cutting it to hold from buy.
The recent run-up in shares of
Oracle
(ORCL) - Get Oracle Corporation Report
led brokerage Deutsche Securities to suggest taking some money of the table Monday morning.
Deutsche took the somewhat unusual step of lowering its investment rating on the stock to hold from buy based on valuation while simultaneously raising its price target on the shares to $9.70 from $9. Oracle was as low as $7.70 on Oct. 7.
Deutsche noted that March will be a seasonally weak quarter for software makers like Oracle,
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Oracle, which Monday morning released an upgrade to its Collaboration Suite, was lowing about 3% to $9.29 in the premarket.
