Citi Maintains Buy on Oracle

Citi is out with its report today on Oracle ORCL, maintaining Buy. In a note to clients, Citi writes, "We remain bullish on Oracle shares and are maintaining our $35 price target. The combination of above-market growth, extremely sticky products and best-in-class execution drives an attractive fundamental investment case. Downside looks limited at 1x the S&P (after hours price) but there are limited catalysts on the horizon into summer. We continue to have a preference for Microsoft to Oracle at current levels given we see more catalysts and see a more unwarranted discount to the market." At the time of posting, shares of ORCL were trading pre-market at $31.49, down 2.99% from Thursday's close.