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Shauger writes in a research note that while management at the enterprise software giant paints a bright picture for its engineered systems strategy, recent results "do little to increase our confidence in what we once viewed as a potentially powerful strategy for a mega-cap name like ORCL." He says that recent results from rials suggests "share loss was at play" in the company's November quarter, and turning Oracle into a "show me" story.
Adds Shauger: "We see limited upside."
ORCL is up 3 cents at $28.27.
