Thursday December 20, 06:33 PM
Oracle "buy," target price raised - update
NEW YORK, December 20 (newratings.com) - Analysts at UBS (Virt-X: UBSN.VX - news) maintain their "buy" rating on Oracle (ticker: ORCL), while
raising their estimates for the company. The target price has been raised from $25 to $27.
In a research note published this morning, the analysts mention that the company has posted its F2Q08 revenues significantly ahead of the consensus primarily due to substantially better-than-anticipated license revenues. Oracle's applications license sales rose by 63% y/y in the quarter, the analysts say. The company's database and middleware license revenues were ahead of the estimates, UBS adds. The EPS estimates for FY08 and FY09 have been raised from $1.20 to $1.25 and from $1.40 to $1.43, respectively.
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