Oracle downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded Oracle to Neutral from Overweight with a price target of $100, down from $112. The company’s cloud growth may be peaking as the Cerner transition and date center buildout “pose new hurdles,” the analyst tells investors in a research note. The firm says that while Oracle deserves credit for its “multi-year accomplishments and total recurring revenue growth,” a low/mid-20s free cash flow multiple is fair for an 8% non-Cerner growth glidepath targeted this year.