Credit Suisse Reiterates Oracle at Outperform

Credit Suisse reiterates an Outperform rating on Oracle Corporation ORCL and price target of $40. Credit Suisse remarks, “Oracle's fourth quarter has historically been a seasonally strong quarter (approximately 40% of annual license sales), and we believe Oracle was able to achieve the company's constant currency sales targets for the May quarter driven by continued demand for Oracle Database, Fusion Middleware, and business intelligence, as well as improved sales of Fusion Applications, E-Business Suite, and Siebel. Also, although we expect continued declines in Sun's hardware business, we believe that sales of Exadata and Exalogic continued to grow strongly during the May quarter and that early interest in Exalytics and the Big Data Appliance has been promising.” ORCL closed at $27.02 on Wednesday.