Oracle (ORCL) Defended at Drexel Hamilton

Drexel Hamilton maintains Buy on Oracle (NYSE: ORCL) price target of $62.00.

Analyst Brian White says comments from The Intercept that Amazon (NASDAQ: AMZN) and salesforce.com (NYSE: CRM) are thinking about dropping ORCL "sounds like fake news to us." The analyst says reports are inaccurate and would be a buyer of the stock on afternoon weakness. White comments "Despite a strong day across most of our tech coverage today, Oracle's stock is in the red on the back of a host of media reports highlighting that Amazon and Salesforce will be moving away from Oracle, using alternative databases instead. There have been similar stories about Salesforce in the past and they turned out to be false. We believe today's stories are once again inaccurate."

For an analyst ratings summary and ratings history on Oracle click here. For more ratings news on Oracle click here.

Shares of Oracle closed at $47.28 Friday.

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