Oracle: Weisel Cuts Estimates, Target; Earnings Wednesday

Thomas Weisel Partners analyst Tim Klasell this morning trimmed his EPS estimates and price target for Oracle (ORCL) ahead of the company’s earnings report for the fiscal third quarter ended February, which is due on Wednesday afternoon.

For the May 2009 fiscal year, Klasell cuts his EPS estimate to $1.38, from $1.41. For FY 2010, he goes to $1.51, from $1.58. Klasell’s new price target is $20, down from $24. Klasell maintains an Overweight rating on the stock.

“Our checks indicate that deals continue to be signed, but many deals are subject to downsizing and [there are] some reports of greater-than-normal discounting,” he writes in a research note.

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