Piper Jaffray Overweight on Oracle

Piper Jaffray is out with a research report on Oracle

and it has a Overweight rating and a $37 price target on shares. In a note to clients, Piper Jaffray writes, "We recently held in-depth conversations with 11 contacts in the Oracle ecosystem and noticed increasing market acceptance of Oracle's Exadata solution and increased mid-market awareness of the power of an integrated appliance. One contact stated, "I view more positively Oracle's infrastructure hardware solutions than the last time we spoke" while another one stated that "Customers like the idea of Exadata." Yet another contact said, "Last quarter we got some real revenue around Exadata services." On the whole, our checks also showed that FQ1 progressed in a fairly typical fashion, with contacts generally in line with plan, which we believe will translate into an essentially in-line quarter." Shares of ORCL closed at $28.95 yesterday.