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UPDATE: Societe Generale Raises PT to $35 on Oracle on Solid Outlook

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Societe Generale reiterated its Hold rating on Oracle (NASDAQ: ORCL) but raised its price target from $30 to $35.

Societe Generale noted, "Despite sluggish macro, notably in Europe (32% group revenue), and US fiscal cliff risks, we have greater confidence in Oracle's prospects given: a) new product cycle momentum: History shows that new database releases (10g in 2004, 11g in 2008) add c.10% to license growth in launch year. In 2013 the now more mature Fusion Apps should benefit from migration of EBS 11.5 ERP clients (60% of Oracle ERP installed base). The Exa-series is still on track to deliver triple-digit growth again with a healthy pipeline; b) increased sales capacity (>30% over last 12m across all sectors) should start to deliver."

Oracle closed at $32.03 on Thursday.

Latest Ratings for ORCL

DateFirmActionFromTo
Jun 2016Cowen & CompanyInitiates Coverage onOutperform
Jun 2016Deutsche BankMaintainsHold
Jun 2016Pacific CrestReiteratesSector Weight

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