Erste Group analyst Hans Engel downgraded Oracle (ORCL) to Hold from Buy. Oracle is expanding its cloud offerings with new cloud data centers and is achieving significant growth in this area, but the traditional software business recorded a slight decline, the analyst noted. The firm expects the growth in free cash flow to be impacted by the very high investments and that the operating margin will also fall slightly over the next few years due to the high level of investment, the analyst tells investors.
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