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Benzinga
Benzinga
Business
Anusuya Lahiri

Read How Analysts View Oracle Post Cerner Deal

  • Keybanc analyst Michael Turits downgraded Oracle Corp (NYSE:ORCL) from Overweight to Sector Weight.
  • Patrick Walravens from JMP Securities maintained a Hold on Oracle.
  • Stifel analyst Brad Reback reiterated a Hold and a price target of $87 on Oracle, implying a 5.1% downside.
  • The re-rating follows Oracle's plans to acquire Cerner Corp (NASDAQ:CERN) in an all-cash transaction of $95 per share.
  • Reback believes that Oracle can bring operational efficiency to the Cerner post-close.
  • However, he reminds investors that Cerner's reported gross margin is overstated compared to software peers, as much of Cerner's professional service business cost base is captured in the SG&A line.
  • Related Content: Oracle Agrees To Acquire Cerner At Premium
  • Aside from the scale advantages and financial arbitrage, Oracle gains from this move.
  • He does not believe the deal enhances Oracle's position in the Cloud or meaningfully accelerates the combined business's growth.
  • Reback believes there could be a shift in the shareholder base in coming quarters that could limit further upside in the stock.
  • Price Action: ORCL shares traded lower by 0.01% at $91.63 in the premarket session on the last check Tuesday.
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