BTIG Analyst Raises Price Target on Oracle Corporation (ORCL)

BTIG Analyst Joel Fishbein maintains a Buy rating on Oracle Corporation (NYSE:ORCL). Fishbein raises his price target from $44 to $47.

Fishbein believes the difficult part of ORCL’s cloud transition is complete, causing an increase in the stock’s value. This is supported by the fact that ORCL has had its best YTD since 2012. Fishbein notes, “the gross margin should grow 15 percentage points in FY17 […] and increased sales productivity should yield operating margin expansion, higher cash flow and nearly double-digit EPS growth by FY18”.

According to TipRanks, Fishbein has a 67% success rate recommending stocks with an average annual return of 14.2% per recommendation.

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