Oracle (ORCL) NewsBite - Oracle Price Target Cut

Posted on Tuesday, September 09, 2008 1:57 PM

Oracle (NasdaqNM: ORCL) opened at $19.38. So far today, the stock has hit a low of $19.15 and a high of $19.85. ORCL is now trading at $19.23, down $0.03 (-0.16%). The stock hit its 52-Week high of $23.62 in August and set its 52-Week low of $18.18 in March. Shares of Oracle have been falling into the red today as a Credit Suisse analyst reduced his price target on the stock to $22 from $24. Technical indicators for the stock are bullish and S&P gives ORCL a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on ORCL the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 23 range. [ABR-Seven Summits Strategic Investments NewsBite]

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